Gracekennedy Acquires 100% of Catherine’s Peak

• GraceKennedy (GK) Limited has announced an agreement with Spike Industries Limited to acquire the remaining 30% stake in Catherine's Peak Bottling Company Limited, thereby securing full 100% ownership of the company.
• The transaction, which is subject to customary closing conditions, will see Catherine's Peak Bottling Company Limited, owner of the Catherine’s Peak Spring water brand, becoming a wholly owned subsidiary of GraceKennedy. Frank James, CEO of GK Foods – Domestic, commented "In recent years, GK has been strengthening our position in Jamaica's growing spring water market. This has included our 2021 acquisition of 876 Spring Water, our 2023 acquisition of Unibev, and the steady increase of our stake in Catherine's Peak.”
• He further explained that the acquisition of Catherine's Peak perfectly aligns with GK’s strategy to own leading Jamaican brands, and by 2030 the leading brand in the Caribbean. James also emphasised Catherine’s Peak's strong market position and growth potential, noting that since GK's initial investment in 2018, the brand has become a significant component of the GK Foods portfolio.
• This acquisition represents a key milestone in the growth strategy for GraceKennedy’s Food Business. The company plans to introduce innovative products under the Catherine’s Peak brand and is actively exploring additional opportunities to expand its market presence. As part of these efforts, GraceKennedy is finalising plans to launch Catherine’s Peak exports to the Cayman Islands in 2025, with expectations for further expansion into new markets in the future.

(Source: JSE)