Consolidated Bakeries Jamaica Limited, which trades on the junior stock market as Purity, has secured a J$600 million, 10-year credit facility from Sagicor Bank Jamaica. 

The financing package will be used to refinance existing debt, fund capital expenditure, and support working capital needs.

According to the leading baked goods manufacturer and distributor, the multi-purpose loan facility includes tranches to refinance existing loan arrangements, invest in plant upgrades and production efficiencies, and provide additional liquidity for working capital.  The strategic financing arrangement is expected to strengthen the company’s balance sheet and enhance its capacity to execute key business initiatives.

Commenting on the development, CEO Anthony Chang stated, “This facility positions Purity to accelerate our growth strategy while optimising our cost of capital. It reflects our ongoing commitment to financial prudence and operational efficiency. We are particularly grateful to Sagicor Bank Jamaica Limited for their confidence in our long-term strategic vision and our ability to deliver value to our shareholders and customers.”

Meanwhile, Michael Willacy, senior vice president of corporate banking at Sagicor Bank, remarked, “Sagicor Bank is pleased to support Consolidated Bakeries in this phase of their corporate journey.   Purity is a trusted Jamaican brand with significant growth potential, and this financing demonstrates our commitment to empowering local companies to achieve their business objectives.”

This transaction reaffirms Purity’s strategic focus on modernisation and long-term value creation for shareholders, customers, and stakeholders.