Salada makes Lasco exclusive distributor
SALADA Foods Jamaica has dropped T Geddes Grant, representing the Musson Group, as its distributor.
Last Thursday, Lasco Distributors was appointed the exclusive distributor for all Salada-branded products island-wide.
Lasco had previously distributed Salada products, but Musson Group comprising T Geddes Grant, Facey Commodity and Musson Jamaica, was made exclusive distributor in January 2009.
The coffee maker gave no reason for the change in its notification to the Jamaica Stock Exchange.
Salada saw its sales plunge 11.3 per cent to $634.4 million during the year ended September 30, 2013, from the $715.6 million it recorded the year before.
At the same time, selling and promotion expenses jumped 31.2 per cent, from $33.3 million in its 2012 financial year to $43.7 million last year.