Kingston, Jamaica – Jamaica Producers Group (JP) has confirmed that it has acquired an Ice and Water Business based in the Dominican Republic.
The company, Grupo Alaska was acquired through a new entity known as Grupo Frontera Limited (GFL/Grupo Frontera) which is a joint partnership. Grupo Frontera is thus owned by both The JP and Norbrook Equity Partners, with 50% equity each.
Grupo Frontera’s acquisition of Grupo Alaska’s assets and Operations is only the first, the new company will be focused on acquiring and growing well-positioned companies in the Spanish-speaking Caribbean and Central America.
This acquisition marks a part of JP’s strategy as quoted earlier this year, “Our strategy is to build on our core business capabilities in food and drink, and logistics and infrastructure with selective capital investment projects and acquisitions,”.
JP is a Jamaican own multinational company with a long history and prime focus on business in the food, drink, logistics, and infrastructure industries. JP owns/operates one of Holland’s leading fresh juice manufacturers, Hoogesteger Fresh Specialist BV along with a stake in CoBeverage Labs SL which manufactures fresh juice supplying Southern Europe.
JP also holds interest in Tortuga subsidiary, through which JP operates a Jamaica-based bakery that supplies Tortuga Rum and Spirit cakes to over 15 countries.
Earlier this year, The company made a Logistics focused acquisition of Geest Line Limited, one of the leading shipping lines connecting Europe to the Caribbean. This saw JP acquire 50% shareholding in Geest Line Limited while Seatrade Group, a global reefer vessel shipping services provider held the other 50%.
JP Snacks Caribbean, a subsidiary of JP is a leading regional producer of tropical snacks. P Farms, Jamaica’s leading banana farm, is the largest private-sector employer in St. Mary, Jamaica. JP Group’s logistics interests include Kingston Wharves Limited, a regional multipurpose port, Geest Line Limited, a UK-based shipping line connecting Europe, Caribbean, and Latin America markets, and JP Shipping Services a freight forwarding and logistics enterprise based in the UK.
What are your thoughts on this latest acquisition from Jamaica Producers? Leave us your views in the comments.
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