Pan Jamaica Group Limited (PJAM) Announces Divestment  and Expansion

• Pan Jamaica Group Limited has announced the successful divestiture of Grupo Alaska S.A., a prominent ice and bottled water producer in the Dominican Republic, which is owned by Grupo Frontera, a joint venture equally held by Pan Jamaica and Norbrook Equity Partners Limited.
• Grupo Alaska S.A., with its manufacturing and distribution operations in Santo Domingo and Punta Cana, and a workforce exceeding 300 individuals, has been acquired by Diesco Industries Limited, an international entity with a regional emphasis on the bottled water sector.
• Currently, Panjam is actively in search of other opportunities as the company has proven the concept of using acquisition to secure other opportunities in strategic markets. The Group has also announced the acquisition of APA Processing BZ, S.L.U. ('APA'), a fresh juice processing facility in Barcelona, Spain, which will be managed by the Group's joint venture juice company, CoBeverage Lab S.A.
• The acquisition of APA is anticipated to enhance the high-pressure processing capabilities of the Group's Pan-European juice division, The Juicy Group, which operates facilities in Spain, Belgium, and the Netherlands.
• The Juicy Group provides a diverse selection of cold-pressed fresh juices and employs cutting-edge ultra-fresh and high-pressure processing technologies across all its operations.
• The acquisition is expected to add about 10% to the company’s juice output, ultimately boosting the company’s revenues.

 (Sources: JSE & NCBCM)