In 1981 Ceylon Theatres (now CT Holdings PLC) acquired a controlling interest in the company and Albert A. Page was appointed the Managing Director, and became Chairman in 1982.[8]
Under the new management, Cargills explored the potential of innovating on its trading legacy. As a result, in 1983 Cargills established its first supermarket, with the opening of Cargills Food City at Staple Street, Colombo. In years to follow, Cargills expanded its supermarket chain across Sri Lanka.
Cargills ventured into the production of processed meats in 1993 when the Company invested in its first manufacturing facility, in Mattakkuliya. In 1994, Cargills obtained the local franchisee rights for KFC, setting up the first restaurant at the Majestic City shopping complex.
In 2002 it acquired a dairy processing plant and expanded its farmer outgrower network to include dairy farmers. The Magic ice cream brand was the outcome of this endeavour. In the same year, Cargills diversified into agri-processing with the acquisition of the Kist brand.
In 2010 Cargills undertook an aggressive expansion plan in the FMCG sector to ride the growth potential of a growing economy. During that year the Company expanded its interests in the dairy sector by acquiring Kotmale Holdings PLC[9] and entered another growing category with the acquisition of a manufacturing plant, now marketed under the Kist brand.[10]
In 2011, the Company secured a provisional commercial banking license from the Central Bank of Sri Lanka and commenced operations in 2014.
Cargills acquired the franchise license for T.G.I. Friday's and opened its first restaurant at Colombo Fort in October 2013. The restaurant was later relocated to the One Galle Face mall in Colombo. That same year, Cargills opened the first Cargills Square shopping mall in Jaffna, with the Group's brands being the anchor tenants. These shopping and entertainment malls consists of Cinemas, restaurants, and retail outlets. Cargills has opened five such shopping complexes to date, located in Jaffna, Gampaha, Dematagoda, Bandarawela, and Katubedda.
Cargills along with its parent company CT Holdings also own the Ceylon Theatres cinema business which operates the Regal and Majestic Cinemas.
