Trinidad and Tobago based conglomerate A.S. Bryden & Sons Holdings, has acquired a 44.8 per cent stake in food and premium beverage distributor, Caribbean Producers (Jamaica).
A.S. Bryden is owned by local manufacturing and distribution firm Seprod.
The company says the acquisition represents more than 20 per cent of the issued share capital of CPJ, and conforms with the Jamaica Stock Exchange's general principles on takeovers and mergers, as well as the applicable securities regulations in Jamaica.
Chairman of A.S. Bryden, P.B. Scott, says the stake in CPJ will give the company additional scale, and expand its geographic footprint beyond Trinidad, Barbados and Guyana.
This will bring their operation to Jamaica and St. Lucia.
The company says it intends to hold controlling interest in CPJ in the future.
CPJ has announced Nicholas Hospedales as Chief Executive Officer effective July 9.
CEO of A.S Bryden Richard Pandohie was appointed Chairman.
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