Sri Lanka, Jan. 22 -- CBL Group, one of Sri Lanka's largest diversified food manufacturing conglomerates, announced the strategic acquisition of PT Tri Jaya Tangguh Indonesia (TJT), a large coconut processing facility, with an investment of over USD 25 million.

TJT has a workforce of over 800 employees. The investment was supported by the International Finance Corporation (IFC), a member of the World Bank Group.

The acquisition forms part of CBL Group's broader global expansion strategy, aimed at strengthening its presence in the fast-growing value-added coconut and coconut-based products segment, while building scale and resilience. Indonesia is the world's largest coconut-producing country.

"This acquisition is a strategic step in in...