William Mahfood
The Wisynco Group has acquired a 50 per cent stake in Trade Winds Citrus Limited.
Trade Winds is a beverage entity and owner of the Tru Juice brand.
The deal, which takes effect immediately, was announced on Wednesday. Both entities will maintain their current business structure.
It is expected that they will see immediate benefits from the deal.
William Mahfood, managing director of Wisynco, spoke with RJR News following the announcement:
“Basically what we looked at was the leveraging of Wisynco’s strength in terms of customer relations, distribution and customer service, along with the brand that Trade Winds has which is Tru Juice, Fresh, Squeeze and Wakefield. And looking at opportunities, we see it as a great partnership to grow that company’s business and leverage two companies’ strength to create one strong partnership.”
The senior management team will remain but Wisynco will have members on Trade Winds' Board.
Meanwhile, Peter McConnell, director of Trade Winds, said the Wisynco acquisition will not result in job losses.
“Structure of the business will remain exactly the same; everybody tomorrow (Thursday) morning will be expected to come out and do their regular duties. That was relayed to the staff in a staff meeting today (Wednesday). No, there will be no changes to the structure or any employment, only improvement as Wisynco helps us to maximize our potential,” said Mr. McConnell.
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