E. B. Creasy & Company
Corporate brand
UnclaimedE. B. Creasy & Company is a Sri Lankan listed conglomerate holding company with roots in nineteenth-century Colombo.
Last updated August 31, 2026
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Overview
E. B. Creasy & Company is a Sri Lankan conglomerate holding company founded in Colombo in 1878 by Edward Bennet Creasy. It developed from a nineteenth-century mercantile business into a diversified corporate group and is regarded as one of Sri Lanka's long-established business enterprises. The company was originally operated as a proprietorship. By 1907, its office was located on Baillie Street in Colombo Fort, an important commercial district of the colonial-era port city. Edward Bennet Creasy remained the proprietor at that time, while his son, also named Edward Bennet Creasy, managed the business. The founder was involved in the Ceylon Chamber of Commerce, reflecting the company's place in the organized commercial community of the period. The company was incorporated as a limited liability company in 1929. A major expansion of its corporate base occurred in 1967, when E. B. Creasy acquired Darley Butler & Company, an older Sri Lankan enterprise whose origins dated to an 1848 partnership between Edward Darley and Samuel Butler. Darley Butler had subsequently become a limited liability company in 1920. The acquisition connected E. B. Creasy with another historic trading organization and helped establish the broader group structure associated with the company. E. B. Creasy became a public company in 1968 and was listed on the Colombo Stock Exchange. Its business model is that of a diversified holding company rather than a single-product consumer brand. The group and its associated companies have had interests spanning industrial, commercial, manufacturing and related business activities. One documented transaction was the 2015 acquisition of the entire stake in Lanka Special Steels Ltd from Tata Steel for LKR 433 million. The company's associate Lankem Ceylon was also involved in the acquisition of ACME Printing and Packaging after E. B. Creasy acquired a 19.43 percent stake in that associate. The company has continued to be assessed as an established participant in Sri Lanka's corporate sector. ICRA Lanka assigned it an SLBBB credit rating with a stable outlook in August 2021, citing its long operating history and market position as important considerations. Brand Finance valued the E. B. Creasy conglomerate brand at LKR 1,538 million in 2019, while the company was placed 18th in the relevant conglomerate-brand-value ranking. It was ranked 71st in the LMD 100 2019/20 listing of quoted Sri Lankan companies. E. B. Creasy's corporate history has also included governance controversy. Its 2005 annual general meeting became contentious as shareholders questioned company performance and raised allegations concerning financial irregularities. Kuwaiti investor Al-Nakib, then the second-largest shareholder, alleged that the board had acted prejudicially toward the company and to the detriment of minority shareholders. He subsequently initiated legal proceedings. These events form part of the company's public governance record, although the available reference material does not establish a final legal outcome. In January 2021, the company announced a one-for-one-hundred stock split. Overall, E. B. Creasy is best understood as a long-established Sri Lankan listed conglomerate whose identity rests on corporate continuity, acquisitions, associated-company investments and participation in the country's capital market.
History
E. B. Creasy & Company was established in Colombo in 1878 by Edward Bennet Creasy. The enterprise began as a privately operated mercantile business. By 1907, it was based on Baillie Street in Colombo Fort, and the founder continued to be identified as its proprietor while his son, also Edward Bennet Creasy, managed the operation. The founder's participation in the Ceylon Chamber of Commerce placed the company within the formal business institutions of the period. The business was incorporated as a limited liability company in 1929. Its later development was shaped by the acquisition of Darley Butler & Company in 1967. Darley Butler traced its origins to an 1848 partnership formed by Edward Darley and Samuel Butler, and it had itself been converted into a limited liability company in 1920. The acquisition brought another historically significant Sri Lankan enterprise into the E. B. Creasy organization. E. B. Creasy went public in 1968 through a listing on the Colombo Stock Exchange. Over time, it operated as a diversified holding company with interests extending beyond its original trading roots. Documented group activities include industrial and manufacturing investments, including the 2015 purchase of Tata Steel's entire interest in Lanka Special Steels Ltd for LKR 433 million. Its associate Lankem Ceylon later acquired ACME Printing and Packaging after E. B. Creasy took a 19.43 percent stake in Lankem Ceylon. The company's public record includes both expansion and governance-related events. At the 2005 annual general meeting, shareholders challenged the company's performance and raised allegations of financial irregularities. Al-Nakib, a Kuwaiti investor and then the second-largest shareholder, alleged that the board's conduct harmed the company's interests and minority shareholders. He brought a legal case against the company; the available reference does not provide a final disposition. In the 2019 period, Brand Finance valued the E. B. Creasy conglomerate brand at LKR 1,538 million and placed it 18th in its conglomerate brand-value ranking. The company ranked 71st in the LMD 100 2019/20 list of quoted Sri Lankan companies. In January 2021, it announced a 1-for-100 stock split. In August 2021, ICRA Lanka assigned an SLBBB rating with a stable outlook, pointing to the company's long history and established market position. The available material does not identify a current chief executive, chairperson, official website or detailed portfolio of operating subsidiaries.
- 2021
Stock split announced
[1]The company announced a 1-for-100 stock split.
- 2021
ICRA Lanka credit rating
[1]ICRA Lanka issued an SLBBB rating with a stable outlook.
- 2019
Brand valuation and corporate ranking
[1]Brand Finance valued the conglomerate brand at LKR 1,538 million, and the company was ranked 71st in the LMD 100 2019/20 list.
- 2015
Lanka Special Steels acquisition
[1]E. B. Creasy acquired Tata Steel's entire stake in Lanka Special Steels Ltd for LKR 433 million.
- 1968
Colombo Stock Exchange listing
[1]The company became publicly listed on the Colombo Stock Exchange.
- 1967
Darley Butler acquired
[1]E. B. Creasy acquired Darley Butler & Company, whose business origins dated to 1848.
- 1929
Incorporated as a limited liability company
[1]E. B. Creasy & Company was incorporated as a limited liability company.
- 1907
Business operated from Colombo Fort
[1]The company office was located on Baillie Street in Colombo Fort, with Edward Bennet Creasy as proprietor and his son managing the business.
- 1878
Company founded in Colombo
[1]Edward Bennet Creasy established E. B. Creasy & Company in Colombo.
Products and positioning
A long-established Sri Lankan listed conglomerate positioned around diversified industrial, commercial and investment activities, with corporate heritage extending back to 1878.
Steel and industrial manufacturing
Lanka Special Steels
Lanka Special Steels is an industrial company associated with E. B. Creasy through its 2015 acquisition of Tata Steel's entire stake. The transaction illustrates the group's participation in Sri Lanka's manufacturing and steel-related sectors rather than consumer-facing branded goods.
Printing and packaging
ACME Printing and Packaging
ACME Printing and Packaging became part of the wider group structure through an acquisition by Lankem Ceylon, an associate in which E. B. Creasy acquired a 19.43 percent stake. The business represents the group's exposure to commercial printing and packaging activities.
Controversies
2005
Controversy at the 2005 annual general meeting
The annual general meeting became confrontational as shareholders questioned company performance and raised allegations of financial irregularities. Al-Nakib, a Kuwaiti investor and then the second-largest shareholder, alleged that the board had acted against the interests of the company and minority shareholders and initiated legal proceedings. The available reference does not state the final outcome of the case.
Brand decisions
2021
Announce a 1-for-100 stock splitOtherBackground
The company announced a change to its share structure while remaining listed on the Colombo Stock Exchange.
Action taken
Each existing share was divided into 100 shares.
2015
Acquire Lanka Special SteelsM&ABackground
The group pursued a manufacturing and steel-sector investment by acquiring Tata Steel's entire stake in Lanka Special Steels Ltd.
Action taken
E. B. Creasy acquired the stake for LKR 433 million.
Aftermath
The transaction expanded the group's direct presence in industrial manufacturing.
Acquisition price. LKR 433 million (2015)
Sources1 sources
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