The Caribbean’s dynamic business landscape has taken a significant turn with the transfer of full ownership of Caribbean Producers Jamaica (CPJ) by its co-founders, Anthony Mark Hart and Thomas “Tom” Tyler. This milestone transaction places the future of CPJ in the hands of A.S. Bryden & Sons Holdings Limited (ASBH), marking a decisive chapter for one of the region’s leading distributors.
A Bold Move for ASBH
ASBH, a regional conglomerate renowned for its portfolio of food, beverage, and distribution companies, has expanded its stake in CPJ to a commanding 75.28%. This acquisition was finalized through a series of transactions totaling $2.69 billion (US$17.08 million), reflecting a strong commitment to building on CPJ’s established reputation. The deal includes the purchase of 334,208,668 shares from Hart and Tyler’s holding companies, Sportswear Producers Limited and Wave Trading Limited, at $8.05 per share.
This move builds on ASBH’s initial investment in CPJ earlier in the year, bringing its total spending on CPJ to an estimated $7.9 billion (US$50 million). With this increased stake, ASBH is now positioned to leverage CPJ’s extensive distribution network to meet growing demands across the Caribbean.
A Shift in Leadership
The acquisition has ushered in a wave of leadership changes at CPJ. Nicholas Hospedales has taken over as CEO, while Gerard Conyers oversees the company’s St. Lucia operations. ASBH executives now occupy key positions on CPJ’s board, with Richard Pandohie stepping in as chairman and Tyler continuing as deputy chairman.
The continuity provided by retaining key players, including Mark Hart and Candace Hart, ensures a smooth transition as CPJ aligns with ASBH’s strategic vision. As part of this alignment, CPJ has adjusted its fiscal year to December 31, reflecting its integration into ASBH’s broader operations.
Looking Ahead
In compliance with Jamaica Stock Exchange (JSE) regulations, ASBH has announced plans for a mandatory takeover bid. This initiative, set to launch by January 2025, offers minority shareholders the opportunity to sell their holdings at market-aligned prices. Despite these changes, ASBH has reiterated its commitment to maintaining CPJ as a publicly listed company, balancing shareholder interests with its aggressive growth strategy.
A Vision for Regional Growth
CPJ’s integration into ASBH marks another bold step for the Brydens Group, which aims to consolidate its position as a regional powerhouse. This follows ASBH’s recent acquisition of a majority stake in Stansfeld Scott (Barbados) Limited. With backing from Seprod Limited, which acquired ASBH in 2022, the conglomerate is poised to drive revenues toward its ambitious US$1 billion target by 2026.
Seprod Chairman Paul B. Scott has hailed the CPJ acquisition as a transformative milestone:
“CPJ’s legacy as a premier distributor of food and beverages in the Caribbean is now complemented by access to enhanced resources and a unified regional platform. This partnership is a testament to our vision for growth and excellence across the region.”
A Legacy Secured
For Mark Hart and Tom Tyler, this transaction represents the culmination of three decades of dedication to CPJ. Their decision to step aside signals confidence in ASBH’s ability to elevate CPJ’s legacy to new heights. Under ASBH’s stewardship, CPJ is set to expand its footprint, enhance operational efficiency, and deliver even greater value to its customers across the Caribbean.
As CPJ embarks on this new phase, its future appears brighter than ever, driven by a powerful combination of experience, ambition, and regional expertise.
