GraceKennedy declared on Friday, July 7, 2017, that the Group has agreed to acquire 100% ownership of Consumer Brands Limited. The acquisition will make Consumer Brands Limited, a large player in the distribution industry, a subsidiary of Grace Kennedy Foods. The deal is likely to be concluded before the end of the third quarter of 2017.
Consumer Brands Limited, which is located on Hagley Park Road, distributes Procter and Gamble (P&G) line of products which are some of the most recognized and fast moving international consumer goods. The company’s portfolios comprises of household names like Charmin, Bounty, Ariel, Downy, Tide, Always, Tampax, Pampers, Febreze, Crest and Olay. Consumer Brands Limited rakes in over $2 billion in sales annually and distributes the consumer products through chain and independent supermarkets, whole salers, pharmacies, beauty supply outlets and convenience stores. The company’s portfolio of brands rakes in over $2 billion in sales annually.
GraceKennedy Group CEO, Don Wehby, noted, “This valuable portfolio of brands brings welcomed expansion to the range of products that we distribute in Jamaica. Our expertise in managing top tier brands and deep distribution channels make us a natural fit for this acquisition and we expect the products to continue to perform very well”. Mr. Wehby further stated, “We are very excited about this acquisition and look forward to working with P&G and all other stakeholders.”
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