Business
JM | Oct 27, 2020

Everything Fresh Jamaica now has majority control of Bahamian subsidiary

/ Our Today

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Courtney Pullen, Everything Fresh founder and managing director and Melene Pullen, executive director, and Courtney Pullen, examine one of the company’s products. (Photo: Everything Fresh)

 By Durrant Pate

Jamaican meat and food distributor, Everything Fresh Jamaica has majority control of its Bahamian subsidiary, Everything Fresh Bahamas.

The Jamaican parent company has completed the transfer of a 60 per cent stake of Everything Fresh Bahamas Limited to itself. Everything Fresh Bahamas Limited is located in New Providence, Bahamas and is part of the Food Wholesalers Industry.

Everything Fresh Jamaica, which is listed on the Jamaica Stock Exchange, is one of Jamaica’s premier importers and distributors of fruits, vegetables and other food products. In a recent statement to shareholders, Everything Fresh Jamaica confirmed the transfer of majority ownership of the Bahamian subsidiary, where it intends to replicate its local operations there.

Everything Fresh Jamaica’s vision of regional expansion

The move is consistent with the vision of the parent company of replicating the success of its Jamaican operations in other islands of the Caribbean region. Everything Jamaica distributes various high-demand food products including dairy, delicate meats, assorted dry and canned goods, fruits, vegetables and seafood and intends to model its Jamaican operations in The Bahamas.

It purchases meats from foreign markets and distributes them locally to various supermarkets and hotels from its 78 Marcus Garvey Drive, Kingston 11 head office. In early 2019 Everything Fresh Jamaica began exploring a transaction that would accomplish this critical diversification goal, which is now a done deal with the transfer of majority shares in its Everything Fresh Bahamas to the Jamaican parent company.

Everything Fresh Bahamas Limited is focused on supplying food products to supermarkets and the retail trade in The Bahamas.

Everything Fresh Chairman Gregory Pullen (Photo: Everything Fresh)

Everything Fresh Jamaica Chairman Gregory Pullen declared that its Bahamian subsidiary “has realised remarkable growth from a standing start, propelled by a knowledgeable, vibrant and logistics savvy blend of Bahamian and Jamaican staff”. Pullen told shareholders that “despite the challenges of the COVID-19 pandemic, however, we expect to see it continues to deliver value to the market and grow further in the near term”.

Everything Jamaica’s internal expansion

With the acquisition of Meat Experts, based in Bog Walk, St Catherine, earlier this year, Everything Fresh Jamaica has undergone internal expansion, which has seen it now offering a myriad of new meat products for bulk and retail customers.

The acquisition has resulted in greater access to increased cold storage/lowered expenses through shared back office operations, which include management, administration, logistics, sales team, and more.

The company has also upgraded its electrical power system to increase efficiency and lower electrical bills, installed a new modern diesel storage and dispensation facility at Marcus Garvey Drive to lower its vehicular fuel bills, expanded its cold storage space and upgraded its freezer equipment.

Pullen noted that these numerous expansion exercises and infrastructure upgrades were very costly but essential to outfit the company with the capacity to manage an anticipated larger operation.

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