GraceKennedy (GK) Limited has made a significant move in the market by securing the remaining 30 per cent stake in Catherine’s Peak Bottling Company Limited from Spike Industries Limited, solidifying GK’s ownership to 100 per cent. This strategic acquisition positions Catherine’s Peak Bottling Company Limited, renowned for its Catherine’s Peak spring water brand, as a fully owned subsidiary of GraceKennedy.
- Exponential Growth in the Spring Water Market:
- Over the years, GK has been strategically expanding its presence in Jamaica’s thriving spring water market, with notable acquisitions like 876 Spring Water and Unibev. The gradual increase in GK’s stake in Catherine’s Peak since 2018 has been instrumental in reinforcing the company’s foothold in this sector.
- Vision for Innovation and Expansion:
- Frank James, CEO of GK Foods-Domestic, emphasized the robust market positioning and growth prospects of Catherine’s Peak under GK’s umbrella. He envisions introducing inventive products under the Catherine’s Peak brand while exploring new avenues to broaden their market reach.
- Ambitious Growth Strategy:
- This latest acquisition marks a pivotal milestone in GK’s ambitious growth strategy for Catherine’s Peak and their overall Food business. James revealed plans to extend Catherine’s Peak exports to the Cayman Islands by 2025, with aspirations of entering additional territories in the future.
As GraceKennedy continues on its growth trajectory, this acquisition sets the stage for further advancements and opportunities in the ever-evolving landscape of the beverage industry. Stay updated on the latest developments by following The Gleaner on X and Instagram @JamaicaGleaner and on Facebook @GleanerJamaica. Reach out to us via WhatsApp at 1-876-499-0169 or email us at onlinefeedback@gleanerjm.com or editors@gleanerjm.com. Exciting times lie ahead as GraceKennedy paves the way for a future of innovation and expansion in the beverage market.
