A.S. Bryden and Sons Holdings Limited Acquires Significant Stake in Caribbean Producers Jamaica

A.S. Bryden and Sons Holdings Limited (ASBH) has acquired a 44.8 percent stake in Caribbean Producers Jamaica (CPJ), making it the largest shareholder in the premium food and beverage distributor serving hotels and resorts in Jamaica and St. Lucia. Nicholas Scott, Director of A.S. Bryden, expressed that the regional distributor’s goal is to continue acquiring additional CPJ shares with the intention of gaining a controlling interest.

“This investment aligns with ASBH’s strategy to expand our regional footprint,” Scott stated. “We plan to make further acquisitions of CPJ shares in the future with the goal of achieving majority control.” He emphasized that ASBH will make necessary disclosures in accordance with regulatory requirements if and when such acquisitions occur.

This acquisition positions ASBH’s ownership beyond 20 percent of CPJ’s issued share capital, complying with the Jamaica Stock Exchange’s General Principles governing takeovers and mergers, as well as applicable securities regulations in Jamaica.

P.B. Scott, Chairman of ASBH, noted, “A.S. Bryden’s strategic investment in CPJ will enhance our scale and geographic presence, extending beyond Trinidad, Barbados, and Guyana to include Jamaica and St. Lucia.” He highlighted that this move will equip ASBH with enhanced capabilities to serve the hospitality and restaurant sectors, providing access to earnings in hard currency.

Richard Pandohie, CEO of A.S. Bryden, will assume the role of Chairman, succeeding CPJ’s Co-founder Mark Hart. Tom Tyler, another CPJ founder, will be appointed Deputy Chairman, focusing on customer and supplier relations as well as business development. Mark Hart and Candace Hart will continue to serve as directors of CPJ.

In addition to Pandohie and Tyler, ASBH Directors Nicholas Scott, Michael Conyers, and David Franco will join CPJ as new Directors, replacing Christopher Berry, Konrad Berry, Camille Shields, Frank O’Dowd, and Mark Hall, who will resign from their positions shortly.

CPJ transitioned from the Junior Market to the main market of the JSE in June 2021, surpassing the 500 million share capital limit imposed on companies listed on the market. A.S. Bryden & Sons Holdings was listed on the JSE in November 2023 through introduction, with no shares offered to other investors for subscription.

The strategic move by ASBH to acquire a substantial stake in CPJ signals a significant shift in the regional food and beverage distribution landscape. With ASBH’s increased scale and extended geographic presence, the company is poised to strengthen its position in the hospitality and restaurant sectors, leveraging the robust market opportunities in Jamaica and St. Lucia.

ASBH’s continued commitment to regional expansion and strategic investments reflects its dedication to enhancing its service capabilities and achieving long-term growth. This acquisition marks a pivotal moment in ASBH’s journey, reinforcing its role as a leading player in the regional market and paving the way for future developments in the food and beverage distribution industry.