The diversified, Port of Spain-based Agostini’s Limited has acquired controlling interest in Chinook Trading Canada Limited, a consumer product trading company that operates primarily in the Caribbean.
Agostini’s 80 per cent controlling interest has been acquired by its subsidiary, Caribbean Distribution Partners Limited.
Agostini’s directors “believe that this strategic acquisition will benefit the wider group by providing improved logistics capabilities, access to new customers across the Caribbean region and to new North American-based suppliers”.
“The directors believe that this strategic acquisition will benefit the wider group by providing improved logistics capabilities, access to new customers across the Caribbean region and to new North American-based suppliers,” the group indicated.
On the issue of the cost of the acquisition, Agostini’s managing director, Anthony Agostini explained that this information has not been made public as yet, but noted that it is not a substantial amount of money.
Growth through acquisition
Agostini’s has been one of the most acquisitive public companies on the Trinidad and Tobago stock market in the last two years, purchasing three companies in that period, thereby contributing to its growth in the past few years. It acquired pharmaceutical distributor Oscar Francois and its related company manufacturer, Intersol, in 2021 through its Smith Robertson subsidiary.
Through its subsidiary, energy equipment and services provider, Rosco Petroavance, Agostini’s acquired 100 per cent of Process Components Ltd, a company that was owned by directors of Laughlin & DeGannes also in 2021.
The T&T conglomerate completed the acquisition of Collins Ltd and Carlisle Laboratories Ltd of Barbados, which operate in the pharmaceutical and healthcare segment, in December 2022.
Agostini’s Limited is a diversified publicly traded company established in 1925. The group operates in pharmaceutical and healthcare, fast-moving consumer goods (FMCG) and industrial and energy services.
While founded in Trinidad & Tobago, the company now operates across six regional markets, exports to another 10 countries and has over 3,000 employees.