Seprod-owned A.S. Bryden & Sons Holdings Ltd spent a combined US$3.6 million acquiring two Barbados-based companies in 2025, adding a food service distributor and a diversified consumer goods group to its regional portfolio. The deals were carried out through Retail Acquisition Company Limited (RACL), a 55%-owned subsidiary of the Trinidad-based group.
The Two Deals:
The larger deal was the purchase of a 50% interest in Armstrong Agencies Limited (AAL) for BDS$6.0 million (US$3.0 million) in cash, plus a further BDS$500,000 (US$250,000) pending preference share issuance — totalling US$3.2 million. Armstrong distributes consumer products, food, pharmaceuticals, and healthcare products across Barbados. Notably, the deal produced a “bargain purchase,” meaning the fair value of Armstrong’s net assets exceeded what Bryden paid, generating a gain of US$38,000.
The smaller deal was the acquisition of H. Jason Jones & Co Limited for BDS$800,000 (US$400,000), completed April 30, 2025. That company distributes specialty coffee, meat and seafood, and food service products to hotels and restaurants in Barbados. Goodwill of US$138,000 was recognised on the transaction.
Strategic Context:
CEO Richard Pandohie described Armstrong as a partner that strengthens the company’s Caribbean distribution network, and acknowledged the next phase must focus on converting revenue growth into bottom-line results. Chairman PB Scott framed the long-term ambition as transforming the CARICOM region into “a domestic marketplace” through an expanded distribution platform.
Financial Performance:
For the year ending December 2025, Bryden reported revenue of US$613 million, up from US$498 million in 2024, while net profit climbed to US$14.5 million from US$9.5 million. jamaica-gleaner