JP and Wisynco Inks New Partnership

  • Jamaica Producers Group Limited announced that it has entered into an agreement with Wisynco Group Limited to transfer 30% of the shares in its subsidiary JP Snacks Caribbean Limited. JP Snacks Caribbean Limited is a holding company that will own the “JP St. Mary’s” brand and JP’s tropical snack manufacturing operations. JP will hold the remaining 70 % percent of JP Snacks.
  • The goal of the partnership is to bring to consumers a wide range of innovative Caribbean snacks and tropical foods. WISYNCO will bring to the partnership, their expertise in marketing, manufacturing and its distribution network. The transaction values JP Snacks at J$2.4Bn and sees WISYNCO investing J$720Mn for a 30 percent interest.
  • Jamaica Producers Group will seek to strengthen distribution in existing markets in the USA, Canada, the Caribbean, the UK, and Central America, in addition to seeking new markets.

(Source: Release to the JSE)