THE Seprod-owned Trinidad-based A S Bryden & Sons Holdings Limited has secured a 55 per cent controlling stake in Bajan retailer and distributor Stansfeld Scott (Barbados) Limited (SSB).

The transaction will allow A S Bryden to expand its premium beverage business outside of Trinidad for the first time, further consolidating its regional interest as it seeks to unlock increased value for shareholders in a key strategic sector.

Tight-lipped on cost of the recent transaction, CEO of A S Bryden Richard Pandohie commenting on the latest move regarded it a tactical one that will allow the company the opportunity to double down on the premium alcoholic beverages market.

“A big part of A S Bryden’s portfolio is in the premium beverage area, they are the current representative for top brands such as Moet and Johnny Walker; therefore, we are already in that space in Trinidad, so this current move is an extension of that in Barbados,” he said in response to queries from the Jamaica Observer about the acquisition.

“Having taken a substantial stake in the company, we believe it is a really good operation that has been built over many decades, so with our resources and their know-how we will be able to take it to a next level. Everything we’ve done so far has been value accretive, so this too will definitely add to the bottom line, and we expect immediately to make a positive impact on our profitability and return on impact,” he added, while noting that his team was now working with the people on the ground in Barbados to map out some areas for profitability over the next nine months when new lines and partners would have been added.

Stansfeld Scott, which carries a wide range of products, including El Dorado and Plantation rums, Glenfiddich whisky, Stolichnaya vodka, Banrock Station and Lamothe Parrot wines, Twining’s teas, Haliborange vitamins, and Endura Malt is a leading distributor and retailer of wines, spirits, and consumer health products based in St Michael, Barbados. In addition to its distribution business, the company, which now employs some 98 people, operates six Wine World branded retail stores across Barbados.

David Franco, a seasoned expert in the marketing of international wines and spirit brands has been named interim CEO of SSB, who along with his role as regional business development director for premium beverages, assumes the post for a six-month period effective March 6.

Brian Cabral, the outgoing chairman of SSB, will retain some ownership interest in the company and will also remain a director. As a principal owner of Stansfeld Scott International, a master distributor of wines and spirits across the Caribbean and Central America, along with partners Jayshree Kessaram and Indra Cabral, this business, Cabral said, is not be impacted by the transaction.

“Brian Cabral, his family, and his team have spent decades carefully building Stansfeld Scott into the highest quality wines and spirits distributor and retailer in Barbados. We look forward to joining forces and using A S Bryden’s resources to serve Stansfeld Scott’s employees, customers, and its principals,” chairman of A S Bryden, PB Scott said in a notice about the acquisition.

A S Bryden, a distributor of food, pharmaceuticals, hardware, and industrial equipment, was acquired by the Seprod Group in June 2022 for TT$312 million or little over $7 billion in local currency.

The more-than-a-century-old Trinidadian-based entity, which has been heavily focused on growing its business, has since the acquisition been taking a number of steps to deepen its footprint in the region. Among its most immediate goals is that to build out a US$30-million logics hub in the heart of Trinidad through which it aims to double down on new markets in Guyana and Barbados.

“There is now the disclosure on our move in Barbados, and with Guyana as one of the fastest growing economies across the world — it’s somewhere that we will have to be in a very big way. I think over the next nine months one can look forward to hearing some news about our moves in Guyana. We already have a presence in that country, but we are definitely looking to expand more,” Pandohie further disclosed to the Caribbean Business Report.

‘We’re always looking at opportunities to build out a regional business, and we’ve been very aggressive on acquisitions over the last two years. SSB is Bryden’s second acquisition following Micon Holdings. While there are no other immediate acquisitions that we are eyeing, we continue to assess opportunities on the table so as to be able to take advantage of any good one that may turn up, ones that align with our strategy of value-added growth,” he stated.

At the end of its fourth quarter ended December 2023, just a month after listing on the Jamaica Stock Exchange, revenues for A S Bryden more than doubled to total TT$2.6 billion followed by similar profit movements of TT$140 million, up from TT$69.6 million in the previous year.

Its mega warehouse project, for which construction has already began, is also now timed for completion within the next 18 months or by about August 2025.

Sharing some projections for growth, A S Bryden, which Pandohie believes is likely to grow within the region of 12-14 per cent in the next year, will continue to benefit from positive out-turns across most of its portfolios.

“Growth will be up and down, as on the household and hardware side we expect it to be fairly flat, while for food and construction we expect these to grow, most of this additional growth we, however, expect to come from the SSB acquisition,” he noted.