GraceKennedy acquires 100% of Catherine's Peak

GraceKennedy (GK) Limited has disclosed that it has come to an agreement with Spike Industries Limited to acquire its remaining 30 per cent stake in Catherine's Peak Bottling Company Limited, giving GK 100 per cent ownership of the company.

The transaction, which is subject to customary closing conditions, will see Catherine's Peak Bottling Company Limited, owner of the Catherine’s Peak spring water brand, become a wholly owned subsidiary of GraceKennedy.

Frank James, CEO of GK Foods -Domestic, commented, "In recent years, GK has been strengthening our position in Jamaica's growing spring water market. This has included our 2021 acquisition of 876 Spring Water, our 2023 acquisition of Unibev, and the steady increase of our stake in Catherine's Peak.”

He highlighted Catherine’s Peak’s strong market position and growth potential, stating that since GK’s initial investment in 2018, Catherine's Peak has been a key part of the GK Foods portfolio.

He said GK is looking to introduce innovative products under the Catherine's Peak brand while exploring additional opportunities to expand market reach.

“This acquisition is another significant step in our ambitious growth strategy for both Catherine’s Peak and our Food business," James said, noting that the company is finalising plans to launch Catherine’s Peak exports to the Cayman Islands in 2025 with anticipation of further growth into new territories in the future.

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