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Beverage maker and consumer goods distributor Wisynco Group Limited has acquired the assets and operations of Ringtail Bottlers Limited, RBL, and has taken a 30 per cent stake in Ringtail Holdings Limited, the company that owns Select Brands Limited.
The cost of the transaction was not disclosed.
The takeover of RBL gives Wisynco exclusive rights to produce Stone’s Ginger Wine as well as other brands represented by Select.
“The alliance will explore various strategic and commercial synergies moving forward in the areas of distribution, product innovation, manufacturing, marketing and promotion,” Wisynco said in a market filing on Monday.
“This is going to allow us at Select Brands to focus on what we do best, building brands,” Co-Managing Director of Select Brands David McConnell said at the formal announcement of the new alliance in New Kingston, also on Monday.
Select Brands, a distributor of wines and spirits, was co-founded by McConnell and Andrew Desnoes in 2011 and is co-managed by them. It will continue to operate as an independent company.
Wisynco is one of Jamaica’s largest beverage makers and distributor of consumer goods in operation for six decades. Its growth strategy has long included big distribution deals that have also seen Wisynco taking an equity stake in the business, inclusive of Trade Winds Citrus Limited, the makers of Tru-Juice fruit beverages; Worthy Park Estate, a producer of sugar and rums; and snack maker JP Snacks.
Under the Ringtail deal, Wisynco will handle the production of Stone’s Ginger Wine for markets in Jamaica, the Caribbean, and United States, while Select Brands will continue to market and distribute Stones Ginger Wine and accompanying brands in Jamaica.
The contract packaging arrangement will ramp up at Wisynco’s Lakes Pen complex within two weeks, while the reinstalled equipment for Stone’s Ginger Wine is expected to come online by late September, Wisynco CEO Andrew Mahfood said.
Wisynco will also produce Ringtail’s portfolio of brands, including Irie Moss, Prestige Liqueurs, Bandolero, and Privateer, the companies said in a joint statement.
“Now was the right time for this partnership. It complements Wisynco’s broader growth strategy while aligning us with the pre-eminent leader in wines, spirits, and the premium on-premise trade. Both companies will continue to operate independently, but with strategies that deliver strong commercial synergies in promotions and route-to-market execution,” said Mahfood.
“Ultimately, this is about growth and innovation,” said McConnell. “Together we are ensuring that iconic Jamaican and international brands like Stone’s Ginger Wine remain accessible, relevant, and celebrated both at home and abroad.”
Wisynco will take up seats on the boards of Ringtail Holdings and Select Brands.
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