Wednesday, October 28, 2020

EFresh Expands To Bahamas


Karena Bennett/Business
Jamaica Gleaner

Food distributor Everything Fresh Jamaica Limited, EFresh, has gotten the nod from the Central Bank of Bahamas for the acquisition of a 60 per cent stake in a company it took a bet on in early 2019.

Details of the transaction were not disclosed, including the partner that owns the remaining 40 per cent of the business, but EFresh Chairman Gregory Pullen has confirmed that the initial investment in the new subsidiary – Everything Fresh Bahamas Limited – was wrapped into the $140 million booked as investment around the acquisition and upgrading of processing company Meat Experts Limited back in January 2019.

It means both operations would have been part-financed from the proceeds of EFresh’s initial public offering of shares in mid-2018, which raked in capital of $390 million.  Read more >>