From Humble Bakery to Industry Magnate: The journey of Finagle Lanka

Under the leadership of Mahinda Ranasinghe, Finagle Lanka evolved from a humble bakery into a pioneering industry leader in Sri Lanka, earning an international reputation for quality, innovation, and dedication

In Sri Lanka’s dynamic business landscape, Finagle Lanka stands as a shining example of success. The company’s rise is not just a reflection of its commercial triumphs, but also its dedication, strategic leadership, and vision for continuous innovation, all under the guidance of its Managing Director, Mahinda Ranasinghe.

Beginning with the simple capability of a modest “Baby Belling” oven that could bake only four cakes at a time, the company, then called Ran Ovens, its potential was evident from the start to Mrs Ranasinghe, who paved the way for Mahinda Ranasinghe to be introduced to Martin Trust, an American business magnate known for his investments into to Sri Lanka’s apparel industry as a major shareholder of Phoenix Ventures which Mahinda Ranasinghe Managing Director of Finagle Lanka controlled Brandix Group.

At the time, Trust was keen to employ Sri Lankans in his Boston-based venture Finagle – a – Bagel and Ranasinghe convinced him to invest in Ran Ovens instead. This heralded a joint venture between Finagle, Ran Ovens and Phoenix Ventures. Ashraff Omar who headed Phoenix Ventures’ Brandix Group was instrumental in helping Ranasinghe cement the partnership, opening doors for new opportunities and dimensions to its operations. Their alliance transcended the bounds of a typical business merger.

It became a confluence of expert knowledge, streamlined resources, and harmonized visions. This collaboration significantly elevated Finagle Lanka’s profile, firmly placing it at the forefront of the bakery industry in Sri Lanka and igniting the flames of the much-acclaimed “Sri Lankan baking revolution.” From the outset, Finagle Lanka prioritized excellence in all facets of its operations. This commitment was clear when the company chose to invest in high-quality European machinery, mainly from Italy & USA. This decision was about more than just expanding production; it highlighted the company’s dedication to consistent product quality and attention to detail in hygiene. Lanka’s extensive product line underscores its innovative drive.

From savoury frozen flatbreads and delectable buns to sophisticated chilled cakes and biscuits, the company’s offerings are diverse and vast. Their decision to venture into the realm of frozen bakery products reveals both a progressive mindset and a keen understanding of shifting global food trends. Reflecting on its journey, Finagle Lanka has achieved numerous milestones. Established in 2000 through a partnership, by 2008 the firm had earned the distinction of being Sri Lanka’s primary consumer of wheat flour as a bakery. Their launch of a health-focused bread line, the initiation of the frozen products division, and the establishment of exclusive retail outlets speak volumes about their sustained commitment to excellence.

Internationally recognized certifications such as ISO 9001:2000, HACCP, and FSSC 22000 further validate their rigorous quality standards. In 2010 Finagle became a wholly Sri Lankan company with 100% shares acquired by the Ranasinghe Family.

Finagle Lanka’s operational strength relies on four key production pillars: Bread, Buns, Pastry, and Cakes, each optimized for efficiency. Their frozen foods division offers a variety of products, from partially baked goods to ready-to-bake items. Their high-tech facility ensures product quality through advanced machinery and strict hygiene standards. They use modern blast freezers and third-party warehouses for storage, maintaining product freshness. Finagle Lanka excels in delivering products without compromising quality, utilizing specialized trucks for frozen goods and reliable partners for the swift delivery of

fresh items like bread. Internationally, Finagle Lanka has carved out a prestigious reputation. Their frozen bakery products have garnered appreciation far beyond Sri Lanka’s shores, with exports to the Maldives, South Korea, Australia, New Zealand and the US. Their dual strategy aims both to cater to the Sri Lankan diaspora and to acquaint global consumers with the rich tapestry of Sri Lankan bakery traditions.

Within the hospitality sector, particularly among elite five-star establishments, Finagle Lanka’s products are highly coveted. Their offerings present hotels with a trifold advantage: access to world-class bakery items, cost efficiencies from side-stepping specialized equipment investments, and liberation from the ongoing challenge of sourcing expert bakers. Across the dining spectrum, from intimate eateries to sprawling catering operations, the value of Finagle Lanka’s offerings is recognized and celebrated. In the retail sphere, stalwarts like Keells, Arpico, and Cargills Food City prominently feature their products, a testament to the brand’s ubiquity and quality.

Finagle also supplies global franchise giants such as McDonalds, KFC, Pizza Hut, Taco Bell, Burger King and Popeyes, and their products are also making appearances on menus of other prestigious global brands, especially in regions like the Maldives. Finagle’s success is linked to Mahinda Ranasinghe’s unwavering entrepreneurial drive, remarkable adaptability, unwavering resilience, and a talent for cultivating enduring relationships.

Throughout his career, Mahinda Ranasinghe fearlessly ventured into various business domains, including power looms and timber never afraid to make bold decisions and calculated risks to pivot which led to the creation of Finagle and the success it is today. This very ethos persists as the driving force behind Finagle’s ongoing journey of innovation, expansion, and sustained growth, solidifying its position as a dynamic and thriving enterprise.