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The origins of John Keells Holdings lie in a produce and exchange
broking business started by two Englishmen, Edwin and George John,
in Colombo, Ceylon, in the early 1870s. E. John & Co. was
one of a handful of broking companies that helped build tea production
and export into the mainstay of the colonial Ceylonese economy.
In 1948, the year of Ceylon's Independence, E. John & Co.
merged with two London-based broking companies to form the private
limited company of E. John, Thompson, White & Co. Ltd. Business
opportunities in a fledgling post-Independence economy spurred
growth and expansion throughout the Fifties and Sixties. The name
that is now synonymous with Sri Lankan business leadership came
into existence following the acquisition of another Colombo broking
company, Keell & Waldock Ltd, in 1960, the resulting entity
being named John Keell Thompson White Ltd.
As Ceylon modernized, becoming the Republic of Sri Lanka in 1972,
social and political change helped drive John Keells' expansion
and diversification. The growing economic importance of travel
and tourism was reflected in the acquisition of Walkers Tours
& Travels, the leading inbound tour company of the time, and
the Mackinnons' Group, which had extensive interests in shipping.
Thus began a process of diversification that has resulted in today's
70-member conglomerate. The parent firm, now known as John Keells
Ltd, became a public quoted company in 1974.
In October 1986 a newly incorporated John Keells Holdings Ltd.
(JKH) acquired a controlling stake in John Keells Limited and
obtained a quotation on the Colombo Stock Exchange amidst a heavily
over-subscribed public share issue. |
