Oct 2016 Financial News

Pepsi-Cola Trinidad to be sold for US$13m

Oct 20, 2016

Pepsi-Cola Trinidad Bottling Company Limited (PCT) is being sold to Caribbean Distribution Partners Limited, a jointly owned subsidiary of Agostini’s Limited and Goddard Enterprises Limited, for US$13 million.

In a notice to shareholders yesterday, Agostini’s chairman JP Esau said the purchase will be finalised on November 1. The cost to Agostini’s will be US$6.5 million.

PCT is the licensee and distributor in T&T of the PepsiCo range of beverages—Pepsi, Mountain Dew, 7UP and Ocean Spray—also distributes Peardrax and Cydrax under licence. The company also owns and distributes the JuC and Fizz brands and has distribution rights in Barbados for the PepsiCo brands and Peardrax and Cydrax.

Esau said: “The strategic intent is the transfer to PCT of other beverage lines that are distributed by the group, with a view of having a focused beverage marketing and distribution company which we expect will have a positive impact on our earnings over the medium to long term.”

Caribbean Distribution Partners Limited merges six companies from the two groups—Hand Arnold Trinidad Limited, Hanschell Inniss Limited, Coreas Distribution Limited, Peter & Company Ltd, Independence Agencies Limited and Desinco Limited.

Source:
Trinidad Guardian
Thursday October 20, 2016

http://www.guardian.co.tt/business/2016-10-20/pepsi-cola-trinidad-be-sold-us13m