AS Bryden Plans Full Acquisition of Caribbean Producers Jamaica
Deal News | Dec 07, 2024 | EIN
A.S. Bryden & Sons Holdings Ltd (ASBH), a Trinidad and Tobago-based distributor, has furthered its stake in Caribbean Producers (Jamaica) Ltd (CPJ) from 44.8% to 75.3% by acquiring an additional 30.4% share. This move involves a share exchange, issuing nearly 95 million shares of ASBH, valued over JA$2.9 billion, to CPJ sellers. ASBH, part of Seprod and listed on the Jamaica Stock Exchange, plans a mandatory offer to the remaining CPJ shareholders to achieve full ownership. The strategic move aligns with ASBH's intent to dominate the food and beverage distribution market for hospitality sectors in Jamaica and the Caribbean. CPJ, established in 1994, distributes premium global brands and is headquartered in Montego Bay. ASBH has a diverse distribution network across Trinidad and Tobago, Guyana, and Barbados.
Sectors
- Food and Beverage Distribution
- Hospitality and Tourism Supplies
Geography
- Jamaica – Caribbean Producers (Jamaica) Ltd is headquartered and operates mainly in Jamaica, making it crucial to the deal.
- Trinidad and Tobago – AS Bryden & Sons Holdings Ltd is incorporated and headquartered in Trinidad and Tobago.
- Caribbean Region – The operations and strategic goals of ASBH and CPJ involve various Caribbean regions, with CPJ and ASBH targeting the Caribbean hospitality industry.
Industry
- Food and Beverage Distribution – The industry involves companies that distribute food and beverage products, particularly to hospitality sectors. Relevant here as CPJ specializes in this area across Jamaica and the Caribbean.
- Hospitality and Tourism Supplies – This industry includes providers of goods and services to hotels, resorts, and restaurants. CPJ supplies these sectors, indicating their reliance on this classification.
Financials
- JA$2,936,269,180.05 ($126,806,742.84) – Value of the 94,871,379 shares issued by ASBH in exchange for CPJ shares.
- 75.3% – The percentage of CPJ now owned by ASBH after the additional acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| A.S. Bryden & Sons Holdings Ltd | Bidding Company/Buyer | Company | A distributor based in Trinidad and Tobago, part of Seprod, involved in acquiring a significant stake in CPJ. |
| Caribbean Producers (Jamaica) Ltd | Target Company | Company | A distributor of food and beverage brands, headquartered in Montego Bay, Jamaica. |
| Seprod | Parent Company | Company | The owner of AS Bryden & Sons Holdings Ltd, listed on the Jamaica Stock Exchange. |
| Jamaica Stock Exchange | Regulatory Body | Government | The stock exchange where CPJ and ASBH are listed and where the offer announcement was made. |
| Nicholas A Scott | Director of ASBH | People | Spokesperson confirming the strategic plan to purchase additional CPJ shares. |
| P.B. Scott | Chairman of ASBH | People | Speaks to the strategic benefits of the acquisition for ASBH and CPJ. |