iCreate Limited’s planned acquisition of Ideas Execution, a local of branding and trade marketing company, has fallen through.
The junior market-listed iCreate has announced that the previously announced intention to acquire Ideas Execution on February 3, 2023 will no longer proceed as planned. When contacted, iCreate CEO, Tyrone Wilson, declined to comment on the botched acquisition.
However, iCreate remains committed to its growth strategy and will continue to explore opportunities for expansion in the future. iCreate reported last February that it has signed an agreement to acquire the shares of Ideas Execution.
At the time of announcing the planned acquisition, iCreate explained that “the acquisition fits squarely within its ‘Merger and Acquisition strategy’ towards building out its vision as a leader within the creative and digital economies in Jamaica and the wider Caribbean region.”
Wilson, in announcing the acquisition, expressed his excitement around this deal.
“We are continually seeking to build out our advertising division and iCreate as a whole as part of our Group M&A strategy. This partnership will see iCreate owning 100 per cent of Ideas Execution and founder Kevin Frith, becoming a top 10 shareholder in iCreate and a strategic investor.”
Ideas Execution is the leading commercial service provider and business development agency in the route bar market in Jamaica. Ideas Execution, Campari and Wray and Nephew have partnered to execute over 500 branding projects and distributed products valued at over $1 billion in Jamaica since 2013.