ACI PLC has approved an additional equity investment of 60 crore taka in its existing fruit-drink joint venture with Danish beverage company CO-RO, even as the venture is yet to reach break-even.
According to a disclosure posted on the Dhaka Stock Exchange (DSE) on Tuesday, the board of the listed conglomerate approved the additional equity investment in ACI CO-RO Bangladesh Ltd, subject to approval from the relevant regulatory authority.
ACI CO-RO Bangladesh Ltd was established in 2019 as a greenfield joint venture between ACI and Danish fruit-drink maker CO-RO A/S to produce and market fruit-based beverages under the Sunquick brand. ACI holds 49.9 per cent of the venture.
The joint venture inaugurated its factory at Araihazar in Narayanganj in February 2024 and commercially launched Sunquick products in Bangladesh. The partners had invested around $20 million in the factory and related production facilities.
“We are still in loss with the business. The business needs more money to operate, so we are injecting money,” ACI Company Secretary Mohammad Mostafizur Rahman told Daily Waadaa.
The additional investment comes as the venture is yet to generate sufficient revenue to reach its break-even point, according to the company official.
For ACI shareholders, the decision means the listed company is increasing its capital commitment to an early-stage business that has not yet become profitable. The additional funding could put pressure on cash resources in the near term, while the potential benefit will depend on whether the venture can expand sales, reduce losses and eventually generate profits.
ACI's annual report says the company is building stronger sales and distribution capabilities for ACI CO-RO as revenue grows.
ACI itself has reported consolidated losses in recent years, although the losses have narrowed. For FY25, the group reported a consolidated loss of 41.91 crore taka, compared with Tk128.47 crore taka in FY24, while consolidated revenue rose to Tk13,790 crore taka from Tk12,431 crore taka.
A major contributor to the group's losses has been its retail subsidiary ACI Logistics Ltd, which operates Shwapno. In FY25, Shwapno reported revenue of Tk2,650 crore taka but a post-tax loss of Tk273.33 crore taka. The retailer had 683 outlets across 64 districts by June 2025.
ACI's share price fell Tk2 to Tk182 on Tuesday on the DSE following the disclosure, according to market data reported by The Daily Star.
Separately, ACI's board approved the formation of a new joint venture named ACI-ICHINEN Bangladesh Ltd. with Japan-based ICHINEN Holdings Co Ltd.
The proposed company will have an authorised capital of Tk50 crore and paid-up capital of Tk15 crore, with ACI holding 60 per cent of the shares, subject to regulatory approval.
The new venture is expected to operate in three areas: human-resource development and manpower dispatch, motorcycle retail financing and agriculture, according to reports citing the company's disclosure and officials.
ACI has not yet disclosed further details of the business activities of the new venture, according to Mostafizur Rahman.