A Strategic Move: AS Bryden & Sons Holdings Ltd Expands Caribbean Producers Acquisition
Investing in growth, AS Bryden and Sons Holdings Ltd (ASBH) further solidified its position in Caribbean Producers (Jamaica) Ltd (CPJ), acquiring an additional 30.4% stake. ASBH, a part of Seprod and listed on the Jamaica Stock Exchange, made this significant move towards a full takeover by offering the remaining shareholders the option to sell.
Key Points:
– ASBH now holds a 75.3% stake in CPJ, succeeding in acquiring an additional 30.4% through an issuance of 94,871,379 ordinary shares.
– With yesterday’s closing price of JA$30.95 per ASBH share, the total value of the newly issued shares equates to JA$2,936,269,180.05 ($126,806,742.84).
– A mandatory offer to purchase shares from all remaining CPJ shareholders will be extended within 30 days, meeting the Jamaica Stock Exchange’s General Principles on Takeovers and Mergers.
This progressive move follows ASBH’s initial stake acquisition of 44.8% back in July. The strategic outlook underscores ASBH’s commitment to enhancing its presence in the region through synergies with CPJ. Exciting prospects lie ahead as ASBH looks forward to delivering value to stakeholders and customers through this enhanced partnership.
Expanding Horizons:
– CPJ, established in 1994 with operations in Jamaica and St. Lucia, specializes in distributing global food and beverage brands, catering primarily to the hospitality sector.
– With a diverse product portfolio encompassing meats, seafood, dairy, wines, spirits, and logistics services, CPJ has grown to be a prominent distributor in the Caribbean.
ASBH, a seasoned distributor hailing from Trinidad and Tobago and with presence in Guyana and Barbados, boasts a legacy dating back to 1923. Operating as part of the Bryden Group, ASBH’s reach extends across various sectors including food, premium beverages, consumer products, pharmaceuticals, and industrial supplies.
In Conclusion:
As ASBH’s embrace of CPJ deepens, the landscape of the Caribbean distribution market is set for a transformative journey. The synergies between these entities promise growth, innovation, and enhanced service offerings. This acquisition stands as a testament to ASBH’s vision for regional expansion and commitment to stakeholder value creation. Looking ahead, a new chapter of collaboration and growth unfolds as ASBH charts the path towards a unified and stronger market presence.
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