Jamaica Producers Group Limited has acquired 100 per cent of the shares of Belgium-based Juicy Group NV and HPP Belgium NV.
With this acquisition, JP strengthens its position in the European market for freshly squeezed juices and smoothies.
The group now has production facilities and commercial offices in Zwanenburg (The Netherlands), Binche (Belgium) and Barcelona (Spain).
From these three state-of-the-art production locations, each with its own specialisation and core customers, the JP juice group will offer a wide range of cold-pressed fresh juices and smoothies in common packaging forms and make use of advanced ultra-fresh and high-pressure processing technology in all its facilities.
“This acquisition furthers our strategic objective of being a Pan-European leader in the fresh juice business. It allows us to expand our production capacity, drive innovation, and better serve our core customers. We congratulate the JP team in Europe for delivering on this project for the wider group,” said Jeffrey Hall, Chief Executive Officer of JP.
The acquisition of The Juicy Group NV and HPP Belgium NV was completed on March 21, 2023, and will form part of the assets that will be transferred to the Pan Jamaica Group as part of the amalgamation agreement between PanJam Investment Limited (‘PanJam’) and JP, which will see JP transferring its core businesses to PanJam in exchange for a 34.5 per cent investment in PanJam.
The amalgamation is on schedule for completion in the second quarter of 2023.
Jamaica Producers Group Limited is a Jamaica-based, publicly traded multinational group engaged in terminal operations, shipping and logistics, infrastructure, the cultivation, marketing and distribution of fresh produce, food and beverage production, land management and investments.
The group’s segments include JP Food & Drink and JP Logistics & Infrastructure.
The JP Food & Drink segment includes companies engaged in a wide range of speciality food processing activities as well as agriculture and commercial operations.