Seprod reaches agreement to acquire T&T distribution company | Loop Jamaica

The content originally appeared on: Jamaica News | Loop News

Seprod Limited has reached an agreement to acquire Trinidad and Tobago-based consumer distributor A.S. Bryden & Sons Holdings to create a leading integrated manufacturing and distribution group in the Caribbean.

Seprod CEO Richard Pandohie will serve as interim Group CEO of A.S. Bryden.

Together Seprod and A.S. Bryden, with a team of close to 3,000 employees, will serve the world’s leading food, pharmaceutical, premium beverage, hardware and industrial companies, with an expanded portfolio of their own manufactured brands.

Combined annual revenues are projected to be in excess of US$500 million.

A.S. Bryden will continue to operate as an independent, standalone company and its subsidiaries: A.S. Bryden & Sons (Trinidad) Limited, Bryden pi Limited, and F.T. Farfan Limited, will continue to be managed by their existing executive teams.

The companies announced the development in a joint statement on Wednesday.

“A.S. Bryden is an exceptional business run by outstanding people. We are privileged to be the stewards of A.S. Bryden’s heritage and to have the opportunity to work with its talented leadership team. I am excited about our ability to join forces and better serve our employees, customers and distribution partners at Seprod and A.S. Bryden,” stated Seprod Chairman, P.B. Scott.

Commenting on the landmark regional transaction, outgoing A.S. Bryden Chairman, Ian Fitzwilliam said, “Seprod shares many of A.S. Bryden’s core values. I am confident that Seprod will maintain A.S. Bryden’s culture and identity and build on our proud history by investing in our people and our businesses. Seprod has a track record of supporting and motivating high-performing management teams and has demonstrated a keen understanding of the local market. I’m delighted to be associated with the coming together of these two great Caribbean companies.”

For his part, Pandohie noted: “Seprod has always considered that Caricom should operate as a single domestic market. This acquisition will allow A.S. Bryden and Seprod to take a quantum leap in creating a regional company, utilizing the best of our Caribbean people to create value-added synergies”.

Subject to regulatory approvals and other customary closing conditions, the transaction is expected to be completed by May 31, 2022.