Jamaica Producers Group Limited (JPG) has acquired British organic food manufacturer, Simply Organic Limited.
A news release on the Jamaica Stock Exchange said Simply Organic is being purchased by Serious Food Limited, a wholly-owned subsidiary of Jamaica Producers.
The amount being paid by Serious Foods was not disclosed in the release and local press have not yet been able to ascertain more details from JPG, as senior executives were in the UK attending a meeting.
The announcement came a day after JPG completed the J$2.76 billion (£22.3m) sale of the 65 per cent stake it had in its British-based subsidiary, JP Fruit Distributors (JPFD) Limited, to Dole Food Company. (Sale figure reported in the Jamaica Observer).
JPG's decision to sell was primarily motivated by the opportunity to use the money to expand its processed foods operations in the UK.
Simply Organic, established in 1998, produces a range of fresh organic soups, ready meals and pasta sauces. Its turnover for the year ended July 31 was £3.6 million.
