Another Grace acquisition this week

Fresh on the heels of announcing an agreement to acquire all the shares on Scotia Insurance Eastern Caribbean shares, Grace Kennedy announces another agreement to acquire, this time the brand of 876 spring water from Bliss Limited and UniBev Limited (UniBev).
Under the acquisition agreement, Grace Kennedy will assume ownership of the 876 brand, while UniBev will continue to manufacture the product.
“ 876 spring water has been distributed by World Brands, a Grace Kennedy subsidiary since it entered the market in 2017” a Grace release states. The release further states, “this is the second announcement of an acquisition by Grace Kennedy this week. The acquisition of 876, which remains subject to customary closing conditions, places GK in a stronger strategic position in the Jamaican spring water market”.
Commenting on the latest move from Grace Kennedy, Group CEO, Don Wehby stated, “Brand acquisition is a key component of the growth strategy for our Foods Division. Since GK began partnering with UniBev to distribute 876, the brand has shown strong growth and we see opportunities to expand this even further through possible line extensions and the export market. We’re excited to be taking steps to grow our portfolio of products to provide a wider selection to our consumers.”

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