GRACEKENNEDY has invested US$200,000 ($23.2 million) on recyclable plastic labels in its aim of becoming a global consumer group by 2020.

The new label — which has replaced the company’s paper Tropical Rhythms labelling — is made of environmentally friendly polymers that do not contain or leach poisonous chemicals, Group CEO Don Wehby told the Jamaica Observer.

The company expects to see a minimum of 20 per cent return on investment within the first year of re-launch from an increase in market share across all its major global markets, including the United States, United Kingdom and Africa.

“Consumer insights derived from market research conducted in Jamaica, the Caribbean and North America suggested that a more contemporary modern image with simple graphics for our Tropical Rhythms label would help us keep pace with current trends globally,” Wehby told the Business Observer.

“Several local, regional and international design houses were invited to submit designs and they were tested across our major global markets, including Jamaica, and the design we now have was selected as one of the top designs across all markets,” he added.

Since 2012, GraceKennedy has been strategically focused on increasing international revenue earnings from 20 per cent to 50 per cent by 2020. The recent acquisition of the business and assets of La Fe Foods Inc along with the acquisition of an additional 50 per cent of the shares in St Lucian firm EC Global Insurance Company Limited, has allowed the company to report a 15.5 per cent increase in revenues for its third-quarter last year.

GraceKennedy comprises of some 60 subsidiaries and associated companies located across the Caribbean, North and Central America, the United Kingdom, Africa and spans the areas of food processing and distribution, banking and finance, and insurance and remittance.

The company currently distributes tropical rhythms in sorrel ginger, pineapple guava, juneplum, pineapple ginger, reggae medley, fruit punch and mango carrot.

“Regarding the cash refund value (CRV) marked on our labels, it is the law that certain states in the USA must have the CRV denoted on bottled beverage labels. For efficiency, we use the same label stock for both the USA and Jamaica/Caribbean, and as such, the CRV statements will be seen in Jamaica/Caribbean, but naturally, do not apply,” the CEO stated.