Further to the announcement of 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) in January 2021, PROVEN Investments Limited (PIL/PROVEN) is announcing that the transaction is now complete with the requisite regulatory approvals.
The acquisition of the stake in Roberts, 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, represents for PROVEN a demonstrable success in delivering on one of its value levers for topline revenue growth and will also expand its business in the real sector.
As a pioneering Caribbean-focused private equity and real estate investment company, PROVEN’s Private Equity business model is built on two key pillars – financial services and real sector. This posits well for diversification, business model resilience and stakeholder value and return.
Christopher Williams, co-founder and CEO of PROVEN Management Limited, Investment Managers for PROVEN Investments Limited outlined what the acquisition meant as a crucial business strategy “Finalising this purchase sets us on a path to realizing not only regional development and expansion in the real sector; but allows us to support a business that is critical for food security during and post the pandemic. Our bullishness on the economic outlook, particularly on the aftermath of the global pandemic remains; especially as countries move to vaccinations and a return to normalcy. We see tremendous opportunities for growth.”
Jason Sambrano, Managing Director of Roberts, said “PROVEN’s decision to invest in Roberts is a testament to the strength of Roberts and will enable the continued success and growth of the company as a leading food manufacturer within the region.