Seprod Reaches Agreement To Acquire T&T Distribution Company

• Seprod Limited announced that it has reached an agreement to acquire A.S. Bryden & Sons Holdings (“A.S. Bryden”), a Trinidad and Tobago-based consumer products distributor, to create the leading integrated manufacturing and distribution group in the Caribbean. 
• 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. 
• 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. Richard Pandohie, the Chief Executive Officer of Seprod, will serve as interim Group Chief Executive Officer of A.S. Bryden.  
• Seprod’s stock price would have decreased by -6.6% since the start of the calendar year. This news is expected to put upward pressure on the stock price as investors will try to secure a position in the company to capture expected earnings growth. 
• Subject to regulatory approvals and other customary closing conditions, the transaction is expected to be completed by May 31, 2022.

(Sources: JIS News & NCBCM)