Sat | Dec 10, 2016

Carreras sells Twickenham Park complex for $395m

Published:Wednesday | February 11, 2015 | 12:00 AM

Carreras Limited has found a buyer for its Twickenham Park complex and says the $395 million deal is expected to close on March 10.

The name of the buyer was not disclosed.

"The sale is in progress, so I can't say that just yet," said managing director of Carreras, Marcus Steele, on Tuesday.

Carreras is disposing of the complex almost a decade after it exited the manufacturing of cigarettes to concentrate on marketing and distribution of the product.

As a result, the plant at 15 Twickenham Park Estate in St Catherine was under-utilised and exceeded the needs of a downsized Carreras.

The company has moved to a new corporate base at 13A Ripon Road on the edge of New Kingston, and transferred its Twickenham Park depot to Hagley Park Road, also in Kingston.

tameka.gordon@gleanerjm.com