Singer (Sri Lanka) PLC has entered into a sale and purchase agreement with ACME Printing and Packaging PLC to buy the latter’s factory at 345, Gonamadiththa Road, Piliyandala for Rs. 630 million, EconomyNext reported on Wednesday citing a market filing.
ACME described the disposal as “part of the restructuring of the Company and the expansion of the factory premises at Pannala,” in its disclosure to the Colombo Stock Exchange. The proceeds will fund consolidation of ACME’s manufacturing operations at its Pannala site.
The market reacted positively to the announcement. ACME shares rose 3.33% to Rs. 6.20, while Singer shares climbed 60 cents to Rs. 87.50.
Singer is part of the diversified Hayleys conglomerate, one of Sri Lanka’s largest listed groups. The consumer durables and financial services retailer reported a 47% jump in profits to Rs. 2.1 billion for the quarter ended December 2025, driven by home appliances and financial services lines, according to its earnings filing.
The Piliyandala property is being acquired for Singer’s own use rather than as a financial investment, in line with the company’s pattern of expanding directly owned manufacturing and distribution capacity rather than relying solely on third-party suppliers. The transaction value implies a real-estate-led valuation of the standalone factory site.
The deal is the second significant CSE-disclosed corporate transaction this week, following Janashakthi Group’s JXG preferential-allotment CSE clarification and ongoing investor focus on listed-company governance.
