LASCO Manufacturing is close to securing a distribution deal with a major US retail chain.

The move is set to not only strengthen the company’s foothold in the American market, particularly the US east coast, but will also accelerate its broader export growth plans, driving the company’s ambitious goal of increasing exports to 15 per cent of total revenue over the next few years.

The maker of juice and water brand iCool and powdered beverages under the Lasco brand, currently earns about 10 per cent of its revenue from exports.

“We are at the point of signing a deal. We haven’t quite signed it yet, but I think we are there,” James Rawle, executive chairman of Lasco Manufacturing told shareholders during the company’s recently held annual general meeting, while declining to name the company.

He added that the focus of the expansion will be on Lasco’s non-liquid products, including the plant-based nutrition drinks and its Lasco food drink line.

“Shipping water or other liquid products is too expensive, and there are efficient competitors in the US market. We’re focusing on products that make sense for export,” he said.

Affiliated company Lasco Distributors (LASD) exclusively manages domestic distribution for Lasco Manufacturing in Jamaica. While LASD handles some of the company’s export operations, Lasco Manufacturing can actively explore partnerships with other distributors outside of Jamaica to expand its international reach.

Locally, the Lasco brand has established itself as a household name. Now, Rawle wants to use its local success as a springboard to expand the reach of its products outside Jamaica.

“Lasco is one of the most recognisable brands in Jamaica. It has bandwidth. We can do so many things around the brand,” Rawle said.

Amid its plans to expand its footprint globally, Lasco is investing heavily in upgrading its production capacity to meet the expected increase in demand. Rawle said the company has already set aside funds for the acquisition of a new beverage line.

“It will replace an old one. This new machinery will deliver a capacity increase of 40 per cent, and the completion time is by August next year, which is super fast,” he explained.

Lasco’s decision to replace its ageing beverage line is critical to staying competitive in the market. Rawle added that the machinery will be sourced from European suppliers and reflects the company’s long-term commitment to improving efficiency.

“We’re very close to full capacity, but the line we’re replacing has reached the end of its useful life,” he said. “The new machinery will ensure the company can handle growing local demand while also catering to expanding export opportunities.”

Although Lasco remains focused on organic growth, the executive chairman told shareholders that the long-discussed talks of acquisition are still being considered.

“There are two ways to grow a business. One is organically, and that’s what we are about. But this doesn’t mean we aren’t looking at opportunities to acquire something if it makes strategic sense,” he stated.

With a combination of organic growth and potential new partnerships, Lasco is positioning itself to thrive in both local and international markets.

“We think we have the technology, we have the people, and we have the team to do it,” Rawle said, adding that a strong second half next year is expected, with the US deal expected to play a significant role.