Lasco Manufacturing, a key player in Jamaica’s food and beverage industry, is on the verge of finalizing a pivotal distribution agreement with a prominent US retail chain. This move signals a significant step in the company’s strategy to boost its presence in the American market, particularly on the east coast, and accelerate its export-driven growth objectives.
The company, known for its popular iCool beverages and a variety of powdered drink mixes under the Lasco brand, currently derives approximately 10% of its revenue from international markets. However, this new deal could push Lasco closer to its goal of increasing exports to 15% of total revenue within the next few years.
“We’re very close to finalizing the deal. While we haven’t signed it just yet, everything is falling into place,” said James Rawle, executive chairman of Lasco Manufacturing, during the company’s annual general meeting. Although Rawle stopped short of naming the retail chain, he highlighted the significance of the upcoming partnership.
A key part of Lasco’s export focus will be on non-liquid products, particularly its range of plant-based nutrition drinks and powdered food mixes. Rawle explained that while beverages like iCool are popular in Jamaica, shipping liquids overseas is prohibitively expensive due to high transportation costs. Instead, Lasco will focus on lighter, non-perishable products that are more feasible for export.
“Exporting water or other liquids isn’t cost-effective, and the US already has well-established competitors in those areas,” Rawle noted. “Our focus will be on items that offer better margins and greater flexibility for international distribution.”
Lasco Distributors, the company’s affiliated distributor, manages Lasco Manufacturing’s domestic operations in Jamaica and some of its international shipments. However, the company is also open to forming new partnerships with distributors outside Jamaica to scale its export efforts and broaden its global footprint.
In the local market, Lasco is a household name, synonymous with affordability and quality. Rawle aims to leverage this brand recognition to propel Lasco’s expansion abroad. “Lasco is one of the most recognized brands in Jamaica. We want to use that brand equity to build our presence internationally,” he said.
As part of its growth plans, Lasco Manufacturing is also making significant investments in its production capabilities. The company has committed to upgrading its beverage line, which will increase capacity by 40%. Rawle explained that this upgrade is necessary to meet both domestic demand and the anticipated increase in export orders.
“The new beverage line will replace our older machinery, which has reached the end of its useful life. The upgrade will be completed by next August, and it will allow us to ramp up production significantly,” he said. The machinery is being sourced from Europe and reflects the company’s long-term commitment to maintaining efficiency and quality in its operations.
While Lasco’s growth has been primarily organic, Rawle hinted that acquisition opportunities are still on the table. “There are always two ways to grow—organically and through acquisitions. While we’re focused on organic growth, we’re always open to considering strategic acquisitions if they align with our goals,” he told shareholders.
With a new US distribution deal on the horizon and an expanded production capacity in the works, Lasco Manufacturing is positioning itself for a strong second half of next year. Rawle expressed confidence in the company’s ability to meet the growing demand both locally and internationally.
“We have the technology, the team, and the strategy in place to execute this plan. We’re expecting a very strong year ahead, especially with the US deal set to make a big impact,” he said.
As Lasco Manufacturing continues to evolve, it’s clear that the company is aiming for both sustained local success and a more substantial presence on the global stage.
