Everything Fresh picks up Meat company

Everything Fresh traded at $1.61 on Monday.

Everything Fresh completed the purchase and takeover of Meat Experts for a consideration of $50 million, the company reported to the Jamaica Stock Exchange.
The company expects to spend an additional $30 million for upgrades, the release stated. “Meat Experts is a widely integrated manufacturing operation located in Bog Walk, St. Catherine. It has its own abattoir, cutting, processing, packaging and cold storage facilities and logistics network. This acquisition will add several new products to the Everything Fresh lineup, promote the support of local livestock and produce farmers and reduce costs. Everything Fresh will be serving both its bulk and retail clients with additional products that will be launched under the Meat Experts and Everything Fresh brands. Everything Fresh continues to pursue other salient opportunities which exist,” the company stated.
The acquisition provides diversification for Everything Fresh that was previously a purely a distributor of edible goods including fruits and meats.

Everything Fresh two major owners and directors, Mr. & Mrs. Pullen.


Everything Fresh is listed on the Junior Market of the Jamaica Stock Exchange, with the stock closing at $1.61 on Monday.
The suffered a reduction in revenues in the September 2018 quarter from $450 million to $422 million but the nine months period enjoyed a rise from $1.365 billion to $1.39 billion. A loss of $17.5 million was realized in the September quarter versus a profit of $11 before tax in 2017 and for the nine months, profit declined to $27 million before tax from $35 million in 2017. The acquisition could add between $20 to $30 million in profit for the group, based on the capital involved in acquisition and the upgrade to take place.

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