Sri Lanka’s JAT Holdings subsidiary buys Mirotone in New Zealand

Monday November 3, 2025 11:40 am

ECONOMYNEXT – Sri Lanka’s JAT Holdings subsidiary, JAT Exports DMCC, has acquired Mirotone (NZ) Limited in New Zealand for 4 million Australian dollars.

“This acquisition includes the company’s intellectual property portfolio, including proprietary formulations, brands, technology assets, and international business,” the company said in a stock exchange filing.

“This includes an acquisition value of AUD2.5 Million for 100% ownership of Mirotone (NZ) Limited and an additional AUD 1.5 Million for working capital infusion, modernization of manufacturing operations in New Zealand, and the relaunch of Mirotone’s legacy brand in the Australian market.”

The asset sale and purchase agreement was signed on October 31The share transfers will be executed, and the transaction will be completed within five business days from the above-mentioned date.

The total transaction, comprising the purchase consideration and committed reinvestment for growth, represents an investment exceeding AUD4 million, the company said.

Mirotone, established in 1935, specializes in the industrial wood coatings sector globally.

Mirotone (NZ) Limited, established in 1963, holds a market leadership position with a share exceeding 60% in New Zealand’s professional wood coatings industry, serving top furniture, joinery, and architectural clients. JAT said.

The acquisition marks a milestone in JAT Holdings’s regional growth strategy, expanding its coatings footprint across mature global markets.

“By bringing together two industry leaders under one platform, JAT strengthens its international presence and affirms its position as a truly global Sri Lankan enterprise.” (Colombo/Nov3/2025)