Trinidad Company Agostino's Buys Massy Distributors in Jamaica

 


Caribbean Money Daily. Massy Holdings which has 60 operating units continues to sell divisions, the latest being Massy Distributors in Jamaica which has been sold to publicly company listed Agostini's Ltd, an agreement announced on February 3, 2025.

Agostino’s subsidiary, Caribbean Distribution Partners Ltd, signed a share purchase agreement to acquire 100 per cent of Massy Distribution (Jamaica), a pharmaceutical and consumer products distribution company in Jamaica.

Previously, Massy sold insurance arm Massy United Insurance Limited to Coralisle Group Limited. The Massy Group has also sold two technology companies to Musson (Jamaica Limited. In 2022  Massy Holdings Limited also disposing of Massy Properties (Trinidad) Limited (MPTL) to Endeavour Holdings Limited (EHL) in its divestment of non-core subsidiaries.

The company at year end 2024 indicated that it wanted to expand in the United States.

Massy Distribution is a retailer of consumer goods company. It distributes fast-moving consumer goods, confectionery, wine, and other food products.

New owner Agostini's owns 50 per cent of Caribbean Distributors Partners, in a joint venture with Barbadian company Goddard Enterprises. Previously Agostini's purchased a pharmaceutical and personal care distribution company Jamaican company Health Brands, in a transaction that closed on August 3, 2023.

Ltd is a publicly traded company listed on the T&T Stock Exchange (TTSE) which operates across three main sectors: pharmaceutical and healthcare, consumer products and energy and industrial. Agostini's is chaired by local businessman, Christian Mouttet.

In the company press release, Agostini's outlined that the acquisition of Massy Distribution (Jamaica) "is strategic to the regional expansion of our group's consumer products and pharmaceutical businesses."

The transaction will be completed subject to regulatory approvals and the completion of the due diligence process, the group said in a statement issued yesterday.

Caribbean Money Daily

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