Brydens group invests US$25m for new warehouse

AS Brydens and Sons Holdings has signed off on a US$25 million investment for a new warehouse in Central Trinidad – construction will begin in September – following its recent acquisition by Jamaican-based distribution service Seprod Ltd last May.

Seprod Ltd manufactures and distributes in sectors such as beverages, food and grocery and pharmaceuticals. Some of the products are Chubby, Goya, Kraft, Planters and Seven Seas among many others.

At the time of the acquisition being subject to regulatory approvals and other customary closing conditions, Seprod said, in a release then, the projected combined annual revenues to be in excess of US$500 million said CEO of Seprod Ltd and AS Brydens and Sons Holdings Richard Pandohie while speaking to Newsday at the Trade and Investment Conference (TIC) last Thursday.

Seprod Ltd is the parent company of AS Brydens and Sons Holdings and reported that its profits were around $1.4 billion at the end of its first quarter this year. These profits are attributed to an uptick in exports and the continued success of its newly acquired business in Trinidad and Guyana.

“This will start the consolidation of essentially a logistics and distribution hub for the region,” he said.

Pandohie added this is just one of the plans he is able to share, but hinted that the company is working on new projects.

As for expansion, he said, “Brydens has been predominantly in the distribution space, but has a little bit of experience in the manufacturing and pharmaceutical space. Our intention is to bring the strength of our manufacturing base here.”

Pandohie said TT is a great place for manufacturing with low energy costs and people well-versed in this field.

“When you take a look across the region, this is not abnormal as you see Massy and Agostini making acquisitions… the fact is, the region is going to have significant consolidation. We talk about Caricom 50, but that can’t actualise unless the private sector leads an agenda by going across in the different regions and making it one Caribbean.”

Massy Holdings, last December, announced its acquisition of IGL Ltd, a Jamaican-based gas company while in June, Massy Holdings saw a $354 million (US$52.5 million) or 19 per cent in profit after tax, as reported in its consolidated financial report for the period ending March 31.

The Agostini's Group acquired two companies in 2021 – Oscar Francois Ltd and Intersol Ltd with the intention of expanding its network in the pharmaceutical industry. The acquisitions were made by Smith Robertson which purchased all of the shareholdings in the two companies.

Pandohie said Brydens’ presence at TIC is to bring awareness to what the brand has to offer, especially with its new acquisition following the company's 100th anniversary.

The group also turned 100 the same year Caricom turned 50 and Pandohie said, in a release on July 21, while the Caricom single market economy remains valid, it is time to reset and reassess the region’s goal.

“As a regional company, we support the growth of an enabling economic environment across Caricom states, with opportunities for companies to move across and invest in each other to make our region more competitive in the global marketplace.”

Pandohie added that he welcomed the recent decision by Caricom heads to allow free movement for all Caricom nationals as it is a vital step forward for regional integration and value-added synergies in business.

“The Brydens group is an example of the dynamism of the regional private sector, constantly alert to opportunities across the region and merging interests to improve business. Our business goals align with those of Caricom – to promote and support a unified Caribbean community that is inclusive, resilient, competitive and sharing in economic, social and cultural prosperity.”

The Brydens group is made up of many subsidiaries under categories such as premium beverages, food and grocery, hardware and houseware with its regional distributor Bryden pi that distributes food, pharmaceutical and healthcare items. Some of the items Brydens pi offers are Kimberly Clark – this company manufactures sanitary paper products and surgical and medical instruments –, pharmaceutical companies such as Glaxo Smith Kline or GSK, Novartis, Sanofi and Sandoz and cosmetics company L’Oreal.

Its subsidiaries, FT Farfan, is a supplier of brands in agriculture, automotive, construction, manufacturing, mining and quarrying and marine industries. While Franco Trading and Distribution Ltd deals with light manufacturing and co-packing entity and Micon Marketing is a food and grocery, bakery and house care product distributor.

The Brydens group also has its insurance provider Brydens Insurance Agency under its purview which provides motor and home-owners insurance for the public.

The group displayed its export potential products at TIC and developed a range of private-label, owned brands to meet the growing needs of local, regional and international markets.