The GraceKennedy Group is looking to close three “sizable” acquisitions by the first quarter of its upcoming financial year.
One of the deals relates to a financial services entity outside of Jamaica with the other two in the food division within Jamaica, GraceKennedy’s Group Chief Executive Officer (CEO) Don Wehby revealed at the company’s investor briefing on Monday.
GKG is also concluding its acquisition of 100 per cent of Scotia Insurance Caribbean Limited and is awaiting regulatory approvals and the “customary closing conditions,” Wehby said.
Its acquisition and merger thrust also recently saw the conglomerate taking a 60 per cent stake in local research and data analytics company Bluedot as a private equity investor with plans to take that company public in short order.
“This strategy is very clear…the services and the skills of Bluedot can be stretched to the Caribbean easily,” Wehby told shareholders.
Founder and CEO of Bluedot, Larren Peart, has also been on the ground in Trinidad in the last two weeks scouting business.
“And the feedback that we are getting in his briefing to me has been extremely positive. So, we expect that the growth of this company is going to be significant, coming out of the eastern Caribbean,” Wehby said.
The GKG has further targeted “carrying at least two to three companies per annum” to the Junior Stock Exchange, the GKG boss told the meeting of future prospects.
