GraceKennedy Acquires UNIBEV Limited  

• GraceKennedy Limited (GK) has announced that it has come to an agreement to acquire UNIBEV Limited, a privately owned Jamaican manufacturing company which specializes in fully integrated beverage solutions. The transaction, which remains subject to customary closing conditions, will place GK in an even stronger strategic position within the Jamaican spring water market.
• UNIBEV is involved in all aspects of the beverage manufacturing process, including, sourcing raw materials, and packaging. Its manufacturing facility, located in Spring Garden, Portland, includes a Blue Mountain spring water source and is International Bottled Water Association (IBWA) certified.  This will be GK’s sixth manufacturing facility in Jamaica, once completed.
• Group CEO Don Wehby explained that the acquisition is critical for GK as the company advances its position in the growing spring water market in Jamaica. The company is strategically building on its recent investment in the space, following the acquisition of 876 spring water and an increased stake in Catherine’s Peak.
• GK acquired the 876 spring water brand from UNIBEV and Bliss Limited in 2021. GK also became the majority owner of the Catherine’s Peak Spring Water brand in February this year, after increasing its stake in Catherine’s Peak Bottling Company Limited, from 35% to 70%.
• GK continues to seize opportunities to grow its beverage brands by expanding its manufacturing segment. In addition to the opportunities presented for its spring water business, the acquisition of UNIBEV fits in perfectly with its manufacturing transformation strategic plan, which aims to bolster its competitive advantage, and firmly establish GK as a regional powerhouse in food and beverage manufacturing.

(Source: JSE)