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Goddard Enterprises Limited (GEL) of Barbados and Agostini’s Limited (AL) of Trinidad have agreed to the formation of a jointly-owned company, Caribbean Distribution Partners Limited (CDPL), which will be focused on the Fast Moving Consumer Goods sector. Both GEL and AL will transfer into CDPL all of the companies in their respective groups in the consumer goods sector, effective July 1, 2015.
The companies to be transferred into CDPL are based in Barbados, Trinidad, Grenada, Guyana, St.Vincent. And here in St.Lucia, Peter and Company Limited and Bryden and Partners Limited owned by Goddard Enterprises.
CDPL will be 50/50 owned by the two Groups, and, based on an independent valuation by KPMG, AL will be required to pay GEL an undisclosed amount in order to acquire its 50% ownership. The CDPL companies will continue to operate in six regional markets with 2015 revenues of approximately US$230 million.
Goddard Enterprises Limited is a 94-year-old publicly traded conglomerate based in Barbados and Agostini's Limited is a Trinidad & Tobago 89-year-old publicly traded Group in the distribution and services sector.