A.S. Bryden targets listing on Trinidad Stock Exchange by mid-year 2025

 


The Trinidad and Tobago Guardian indicated this week that AS Bryden & Sons Holdings Ltd (ASBH) is targeting June 2025 for listing on the Trinidad and Tobago Stock Exchange (TTSE), having already received regulatory approval for the pursuit.

ASBH is a large distributor of fast moving goods in Trinidad and Tobago and is a subsidiary of Jamaica’s Seprod group which has a 60 per cent shareholding.

As part of the company’s objectives to enhance its shareholders’ investments in the company’s shares, the company intends to make applications within a year of completion of the invitation to list its ordinary and preference shares on the Jamaica Stock Exchange and the T&T Stock Exchange through listing(s) by introduction...” Bryden’s chairman Paul B Scott outlined in an information memorandum.

AS Bryden was listed on the JSE main market on November 10, 2023. June 2025 is the target date for the TTSE.

Currently, AS Bryden is engaged in purchasing more shares of Caribbean Producers limited in a mandatory takeover offer after it increased its holdings in that company.

On Wednesday January 8 ASBH announced an increase in ownership stake in CPJ. It acquired an additional 30.4 per cent stake. As a result of this additional purchase, ASBH now owns 75.3 per cent of CPJ and CPJ is now a subsidiary of ASBH.

The Company, in recognition that this increased ownership represents more than 50 per cent of the issued share capital of CPJ and consequently, has extended a mandatory offer to all remaining CPJ shareholders in accordance with the Jamaica Stock Exchange's General Principles relating to Takeovers and Merges.

CPJ was founded in April 1994 by Mark Hart and Thomas Tyler as a food service distributor selling consumable products to the hospitality industry, distributing also non-food, wines & spirits for major, internationally renowned brands. It now manufactures its own line of beverages and meat products.

The company listed on the Jamaica Stock Exchange (JSE) on July 20th.

Located in Montego Freeport, St. James, the company has over 120,000 sq. ft. of space, housing offices, manufacturing plants and refrigerated and dry warehouse space. The distributor of wines and spirits and distributes brands, namely Bacardi, Grey Goose, Dewar’s, Rémy Cointreau, Yellow Tail, Concha y Toro, Taittinger and Louis Latour.

Its other operations are retail store CPJ Market with The Deli and CRU Bar and Kitchen at Courtyard 71 located at 71 Lady Musgrave Road adjacent to New Kingston and CPJ St. Lucia.

The CPJ Saint Lucia Ltd Distribution Centre and Meat Processing Facility, a joint venture between Du Boulay’s Bottling and Caribbean Producers Jamaica, held its opening ceremony on Thursday, November 5, 2015, and represented a US$25 million invested in new plant and equipment and employment of 40 locals.

AS Bryden, a Trinidad company, was acquired by CPJ in 2022 which company disclosed that the purchased on a going concern basis from owners who were principally concerned with succession planning.

Effective June 1, 2021, Seprod acquired 60 per cent of the shareholding of AS Bryden which in turn held a stake in CPJ, whose results were consolidated in Seprod’s financials for Q3. CPJ primarily services the hotel sector.

From July 9, 2024, A.S. Bryden & Sons Holdings Limited (ASBH) acquired 44 .8 per cent of the share capital of Caribbean Producers (Jamaica) Limited (CPJ), a leading food and beverage distributor for major global brands with a focus on serving hotels and resorts in Jamaica and St. Lucia.

Richard Pandohie, chairman of Caribbean Producers Jamaica Limited, CPJ, is focused on regional expansion of the business.

CPJ provided no profit uplift from CPJ in Seprod’s third quarter. Seprod chair PB Scott commented, “this will turn around in Q4 as the winter tourist season gets going in Jamaica, with the hotels already reporting stronger booking than last quarter experience.”

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