AS Bryden Holdings Co (ASBH) has made a significant move in the food and beverage industry with its recent acquisition of a major stake in Caribbean Producers (Jamaica) Ltd (CPJ). In a media release, ASBH confirmed its acquisition of 44.8% of CPJ, marking a new chapter in the company’s expansion.
The announcement also included the appointment of Nicholas Hospedales as the new CEO of CPJ. With a background in leading food and grocery, premium beverage, and operations units at ASBH, Hospedales is poised to bring his expertise to his new role. Additionally, CEO of ASBH Richard Pandohie will transition to the position of chairman and co-founder of CPJ, while Tom Tyler will serve as deputy chairman and consultant to the company. Directors Mark Hart and Candace Hart will remain in their respective roles.
The reshuffling continues with ASBH directors Nicholas Scott, Michael Conyers, and David Franco stepping in as new directors, replacing several key figures. Mark Hart expressed optimism about the collaboration between ASBH and CPJ, foreseeing significant growth opportunities in expanding their reach across the region.
The acquisition comes on the heels of Seprod Ltd’s takeover of ASBH in 2023 for $312.7 million, resulting in a combined annual revenue exceeding $3.37 billion. Seprod’s history in regional food manufacturing, distribution, and agribusiness dates back to the 1940s, positioning the company as a prominent player in the industry. As part of the Musson Group of Companies, Seprod’s diverse portfolio includes oils, margarine, dairy, biscuits, and snacks, highlighting their robust presence in the market.
Overall, ASBH’s strategic acquisition of CPJ signals a new era of growth and collaboration within the food and beverage sector, setting the stage for enhanced market presence and operational efficiency.
