FT Farfan Limited has entered the Jamaican industrial supply market after acquiring the import and distribution rights for the STIHL brand of products here.

The Trinidadian subsidiary of AS Bryden & Sons Holdings Limited (ASBH) became the official distributor for the Jamaican market on October 1, taking over from Delta Supply Company Limited. This is being undertaken by its new subsidiary FT Farfan (Jamaica) Limited which was incorporated on March 31 with FT Farfan as its sole shareholder.

“In this unique business model that leverages partnership into profitability, we stand ready to build a strong, robust dealer network across Jamaica that is well supported by product availability, technical training, and marketing support,” a news release quotes FT Farfan Managing Director Kevin Sammy.

FT Farfan (Jamaica) marked its official appointment with the hosting of the inaugural STIHL Dealer Convention held at AC Hotel Kingston. The event was attended by ASBH Chairman Paul B Scott, newly appointed ASBH Chief Executive Officer (CEO) John De Silva and several local dealer representatives.

The conference showcased the wide range of STIHL products to participants, such as chainsaws, hedge trimmers, blowers, water pumps, and mist blowers.

STIHL is a German manufacturer of outdoor power equipment and celebrated its 100th anniversary this year.

The new STIHL products will be available at the recently renovated Atlantic Hardware & Plumbing Company Limited (AHPC) showroom at 105 – 107 Marcus Garvey Drive, Kingston 11.

AHPC, a wholesale distributor of hardware, building materials, plumbing and agricultural products, is controlled by companies connected to the ASBH chairman.

The move into Jamaica builds on FT Farfan’s dominant footprint in its domestic Trinidadian market where it distributes STIHL products along with Dewalt, Harris, Demag and Navistar. FT Farfan operates an industrial division with brands like JCB and Cummins while offering services including the supply and rental of construction equipment. It also operates a service and parts division which allows for the servicing and maintenance of all brands sold by FT Farfan. The distribution company also handles lubricants like Castrol, Shell and CRC.

FT Farfan is ASBH’s third largest operating subsidiary by revenue and generated nine per cent of group revenue or US$44 million in the December 2024 financial year. This is an improvement on the US$32 -million generated in the March 2022 financial year when ASBH was a private subsidiary.

FT Farfan also owns a 75 per cent stake in IBIS Construction Equipment Sales and Rentals, a joint venture with Farfan & Mendes of Guyana. This subsidiary, which was established in 2019, represents heavy construction brands like JCB, Atltas Copco, Lincoln Electric, and Belle.

The entry into Jamaica represents the expansion of Seprod Limited’s regional platform being undertaken through AS Bryden. ASBH acquired 80 per cent of Caribbean Producers (Jamaica) Limited between July 2024 and February 2025 as part of its expansion moves while deepening avenues for foreign exchange. It acquired majority interests in Barbadian companies H Jason Jones & Co Limited and Armstrong Agencies Limited during 2025 for BDS$6.7 million (TT$22.9 million).

Despite these expansionary moves, the recent softening of premium beverages and industrial equipment business in Trinidad & Tobago, coupled with the effects of Hurricane Melissa on CPJ in Jamaica has dragged on ASBH’s operating earnings. Consolidated revenue for the second quarter (April to June) was down seven per cent to US$139.80 million, with gross profit down 10 per cent to US$38.93 million. After accounting for higher finance costs from its larger debt balances, ASBH’s consolidated net profit declined from US$2.75 million to US$212,000.

For the overall six months period, consolidated revenue was down seven per cent to US$280.99 million due to the slower first quarter performance. The reduction in revenue and higher operating expenses saw operating profit cut by 44 per cent from US$17.37 million to US$9.66 million. Consolidated net profit dipped from US$5.98 million to US$278,000, with US$467,000 attributable to shareholders.

“The short-term operating environment continues to present macroeconomic and regulatory challenges, but the foundational changes under way are creating a leaner, more scalable operating platform. The board and executive leadership remain fully confident that our strategic investments in brand expansion, infrastructure integration, and operational efficiency will drive enhanced performance in the second half of the year and deliver sustainable long-term value to our shareholders,” said the second quarter report signed by the ASBH chairman and CEO.

Despite the headwinds, ASBH has placed a focus on three key strategic pillars to move the business forward. The first is focused on brand scaling and geographic expansion, which is taking place via acquisitions and the recent entry of FT Farfan into the Jamaican market; the second is aimed at establishing centres of excellence to improve speed, expand operating margins and ensure consistency across all business units. The third pillar is centred on centralising infrastructure and operational efficiencies through centralised warehousing in Trinidad & Tobago, Guyana, and Barbados.

ASBH has spent US$29 million via joint venture Caparo Industrial Properties Limited to construct a state-of-the-art distribution centre in Chaguanas, Central Trinidad. This facility is expected to replace six existing warehouses in Trinidad while delivering operational synergies across the business.

“However, supply chain and regulatory delays have postponed commissioning from the original anticipated date of February 2026 to the end of 2026, delaying the realisation of these operational benefits in the near-term, while not altering the project’s strategic importance,” stated the recently released Caricris report on Seprod’s subsidiary plans.

ASBH’s asset base was down eight per cent to US$501.50 million for the six months period as inventory and receivables declined while cash closed at US$23.09 million. Total liabilities were down 12 per cent to US$347.23 million as the company’s trade payables declined along with total borrowings at US$195.27 million. Consolidated equity was marginally down to US$154.27 million, with US$127.27 million attributable to shareholders.

ASBH’s Jamaican dollar stock price remains down 37 per cent in 2026 at $19 while the United States dollar stock price is down three per cent at US$0.1690. The Trinidad & Tobago dollar (TTD) stock price is down 27 per cent to TT$1.39.

The USD preference share closed at US$1 on both the Jamaica and Trinidad & Tobago Stock exchanges. The TT$1.7 million (US$250,737) worth of preference shares connected with the Armstrong acquisition have not been listed as yet. Seprod spent US$5.29 million during March 2026 to acquire ASBH preference shares from the former ASBH owners.

The company acquired a 60 per cent stake in ASBH in June 2022 before it was diluted to 50 per cent in January 2025 through several ordinary share issuances. Seprod increased its stake in ASBH to 80 per cent in July 2025 through the issuance of new ordinary Seprod shares to ASBH shareholders. ASBH has become a key business in forming Seprod’s regional distribution platform which includes a goal of US$1 billion in consolidated revenue.

STIHL is a German manufacturer of outdoor power equipment such as chainsaws, hedge trimmers, blowers, water pumps, and mist blowers.