Jamaican Seprod Ltd to acquire AS Bryden

Seprod Ltd has announced that it is in the process of acquiring AS Bryden and Sons Holdings to become what it described as the leading integrated manufacturing and distribution group in the Caribbean.

A media release from both entities on Wednesday said the deal was expected to be closed by May 31, subject to regulatory approvals and other customary closing conditions.

It said, “Together, Seprod and AS 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.”

It added that AS Bryden and its subsidiaries – AS Bryden and Sons (Trinidad) Ltd, Bryden pi Ltd, and FT Farfan Ltd, will continue to operate independently, managed by their existing executive teams. Seprod CEO Richard Pandohie, the release said, will serve as interim group CEO of AS Bryden.

Pandohie said, “Seprod has always considered that Caricom should operate as a single domestic market. This acquisition will allow AS Bryden and Seprod to take a quantum leap in creating a regional company, utilising the best of our Caribbean people to create value-added synergies.”

Seprod has been in the regional food manufacturing, distribution and agribusiness since the 1940s and has a manufacturing base spanning oils and margarine, wheat and corn milling, integrated dairy and biscuits and snacks. Popular bands in its portfolio include Supligen, Ovaltine, KraftHeinz, Mondalez, Goya, Post, Brunswick, Pfizer, Roche, Boehringer Ingelheim, Wyeth and PA Benjamins.

It is also a member of the Musson Group of Companies, which is involved in manufacturing, insurance, information technology, logistics and real estate.

Some of Musson’s subsidiaries include Seprod, General Accident Insurance Company (Jamaica and TT) Ltd, Interlinc Group Ltd (Jamacia and TT), Musson International Dairies TT Ltd, and PBS Technologies Ltd (formerly Massy Technologies) which it acquired in 2020, among others.

AS Bryden chairman Ian Fitzwilliam said, “Seprod shares many of AS Bryden’s core values. I am confident that Seprod will maintain AS Bryden’s culture and identity and build on our proud history by investing in our people and our businesses.

“Seprod has a track record of supporting and motivating high-performing management teams and has demonstrated a keen understanding of the local market. I’m delighted to be associated with the coming together of these two great Caribbean companies.”

AS Bryden has been a leading distributor of food, hardware and housewares and was known for carrying brands such as Whirlpool, Rubbermaid, Colcafe, Bon ice cream, Cadbury, Johnnie Walker, Hennessy, Moet Chandon, Red Bull, Black & Decker, the Eve brand of products.

Bryden pi Ltd was the distributor of healthcare, personal care and food and grocery products for international brands including Kimberly Clark, Glaxo Smith Kline, L’Oreal, Novartis, Sanofi and Sandoz. It also manufactures over-the-counter products through its wholly-owned subsidiary Genethics and operates in Guyana and Barbados.

FT Farfan, an industrial supply and service company was the distributor for brands such as Stihl, JCB, Castrol, Shell Marine, Cummins and Lincoln Electric and also operates in Guyana.

Seprod chairman PB Scott said, “AS Bryden is an exceptional business run by outstanding people. We are privileged to be the stewards of AS Bryden’s heritage and to have the opportunity to work with its talented leadership team.

“I am excited about our ability to join forces and better serve our employees, customers and distribution partners at Seprod and AS Bryden.”