Acquisition of 50% interest in Co-Beverage Lab, S.L.
KINGSTON, JAMAICA: Jamaica Producers Group Limited (‘JP’) announces its acquisition of a 50 percent interest in Co Beverage Lab, S.L. (CBL), effective September 1, 2021.
JP is now the largest shareholder of CBL, a producer of fresh juice, based in Barcelona, Spain. According to Mr. Jeffrey Hall, Chief Executive Officer of JP: “The acquisition is directly in line with the stated strategic plan of Jamaica Producers Group Limited which includes the development of major new markets in Europe for fresh juice.”
CBL serves a range of customers in Southern Europe and will target business opportunities in that market. JP currently operates A.L. Hoogesteger Fresh Specialist B.V. which is among the market leaders in fresh juice in Northern Europe and is JP’s largest business by revenues. Mr. Hall further stated: “CBL is a useful platform for growth. We believe it has the team and the facilities to benefit from JP’s larger established footprint and overall expertise in fresh juice.”
JP is a Jamaican-owned multinational with its primary businesses in food and drink and logistics and infrastructure. JP’s specialty food interests include its Tortuga subsidiary, through which JP operates a Jamaica-based bakery that supplies Tortuga Rum and Spirit cakes to over 15 countries.
JP Snacks Caribbean, a subsidiary of JP is a leading regional producer of tropical snacks. JP 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 European, Caribbean and Latin America markets, and JP Shipping Services a freight forwarding and logistics enterprise based in the UK.