In 1995 the Distilleries Company of Sri Lanka (DCSL) acquired the Beruwela Distillery (Private) Limited and subsequently renamed it Melstacorp Limited. Between 2010 and 2015, all subsidiary companies of DCSL were transferred to Melstacorp. In 2016, through a share swap, Melstacorp became the holding company of the Group leaving DCSL a standalone company under the Group. Melstacorp was listed in the Colombo Stock Exchange on 30 December 2016.
The origin of our Group can be traced back to 1913 when the Excise Department of Ceylon, initially created as the authority to distribute and sell liquor products in Sri Lanka, also began to manufacture liquor. In 1974 the State Distilleries Corporation was incorporated to take over and the Excise Department was realigned as a monitoring body, as which it still functions today.
The pioneer distiller in Sri Lanka, the State Distilleries Corporation was converted into a limited liability company and in 1992 ownership was transferred in the Colombo Stock Exchange and the Distilleries Company of Sri Lanka (DCSL) was born.
Under the new management, the company was upgraded and modernised to international standards and large investments were made in research and development. The Distilleries Company of Sri Lanka continues to remain the largest distiller in Sri Lanka, possessing majority market share.
Over the years, DCSL grew on to become a large conglomerate with diversified interests, ranging from plantations to telecommunications, leisure, energy, logistics and financial services. Today it has been restructured such that Melstacorp, formerly the strategic arm of DCSL, is the parent company of the Group. The share swap took place in 2016 and Melstacorp was listed in the Colombo Stock Exchange in December 2016 (MRCP).