The ANSA McAL Group of Companies (ANSA McAL) says the take-over of Berger Paints Trinidad Limited (Berger) by ANSA Coatings International Limited (ACIL) will mean “added value” for customers.
“ACIL has long recognised the Berger brand as a world class brand and looks forward to its continued growth.
Our highly complementary business models will create the impetus for all involved and will offer compelling benefits to Berger customers and employees. Customers will see added value along our chain of distributors and marketing partners,” ANSA McAL told Newsday.
In a notice to shareholders published on January 3, Berger said, “subject to verification of validity of acceptances received”, it has been advised by ACIL that Berger shareholders deposited approximately 692,277 Ordinary Shares.
This was in response to the offer and take-over bid dated November 1, 2017 as amended on December 6, 2017 which, together with ACIL’s and its affiliates’ existing shareholding in Berger, “represents approximately 94 per cent of the outstanding Ordinary Shares.”
Asked if the Berger logo would be changed to reflect its new parent company, ANSA McAL said, “We welcome Berger to our ANSA McAL family; it’s a fantastic addition. Penta and Sissons already have their own logo and branding, so does Berger Paints.” The conglomerate added that Berger “will continue to provide innovative paint products and services across all sectors, to homes and institutions worldwide.”
Newsday also asked if there are any plans to increase or reduce Berger staff but ANSA McAL’s response was to point out that “ACIL has had majority ownership since July 2017 and the mandatory offer to minority shareholders is what the notice refers.” In July 2017, ACIL acquired 100 per cent ownership of Lewis Berger (Overseas Holdings).
This gave the group 100 per cent of the shareholding of Berger Paints Barbados Limited and 51 per cent of Berger Paints Jamaica Limited.