PROVEN Investments Limited has entered into an agreement with Massy Properties (Barbados) Ltd., a company within the Massy Group, to purchase its 50.5 per cent interest in Roberts Manufacturing Co. Limited.

Roberts is a leading manufacturer of animal nutrition, edible fats and oils in Barbados supplying diversified consumer goods to markets in the Caribbean, Central America, and the United States.

Over the past decade, PROVEN said its mission has been to pioneer as a Caribbean-focused private equity and real estate investment company; providing strong returns to its stakeholders. 

“The acquisition of interest in Roberts increases PROVEN’s footprint in the real sector,” PROVEN said in a statement.

In addressing the strategic move, Massy Group said: “The sale of this successful business is consistent with the Massy Group’s strategy to focus and optimise its current portfolio, and to position itself to capture growth opportunities.”

Christopher Williams, co-founder and CEO, PROVEN Management Limited, the investment managers for PROVEN Investments Limited, said: “This purchase demonstrates our bullishness on the economic outlook, and tangibly allows us to participate more in the real sector which is poised for tremendous growth on the aftermath of the global pandemic; that has heightened the demand on consumer goods and services.”

Completion of the transaction is subject to regulatory approval.