Jamaica’s FTC gives T&T’s Agostini non-objection to Massy Distribution (Jamaica)
/ Our Today
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Durrant Pate/Contributor
The sale of Massy Distribution (Jamaica) to Trinidad and Tobago (T&T) based Agostini Limited moved one step closer to reality with Jamaica’s Fair Trading Commission (FTC) now giving its non-objection to the deal.
In February last year, Agostini announced that it had entered a share purchase agreement with Massy Group to acquire the Jamaican pharmaceutical and consumer distribution operations of Massy Distribution, which is cross-listed in Jamaica and T&T. However, the closure of the transaction was delayed because the FTC had concerns about competition issues as a result of the acquisition.
The sale is being executed through Acado Jamaica Holdings, which is jointly owned by Agostini and Barbados’ Goddard Enterprises. This acquisition is strategic to the regional expansion of Agostini’s consumer products and pharmaceutical businesses.
In a statement released in the twin-island Caribbean republic, Agostini reported, “This purchase, which is expected to be completed in the coming weeks, expands the Agostini Group’s presence in Jamaica by adding the consumer and pharmaceutical divisions of Massy Distribution, including Windsor Laboratories, to its portfolio.”
Aventa Jamaica, acquired by the Agostini Group in 2023, was the Group’s first operating entity in the Jamaican market. For Agostini Group CEO, Barry Davis, “Jamaica continues to be a key market for us, and the closure of this transaction will be strategic to our long-term growth ambition. Our ability to work with the FTC to reach an agreement underscores our commitment to good governance and compliance with regulatory requirements wherever we operate.”
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