Derrimon Trading Company Limited, operators of Kingston-based wholesaler Sampars Cash and Carry, has signed Mayberry Investments Limited to act as lead financial adviser to assist in executing future growth plans.
Derrimon is engaged in the business of distributing consumer goods to wholesalers and retailers.
It distributes mostly bulk products such as rice and meats, including liver, kidney and cow foot, as well as brands such as Nestlé, Sun Powder and Blue Power.
The company also has its own brand called Delect, which it uses to brand products such as rice, canned mackerel, sausages, vegetable oil, cornmeal and vinegar.
Chairman of Derrimon Trading, Dereck Cotterel, said the intention is to expand both sides of the business, but he was not willing to divulge much information about that at this time.
"Well, we want to increase the number of stores on the Sampars Cash and Carry side, but I can't say much at this time because I don't want to show my competition my whole hand," he told Wednesday Business.
"But we want to build more branches in the next four to five years. Definitely, you will see something by next year," he said.
Cotterel said he is not sure how the required capital would be raised, but that he was awaiting advice from the financial team at Mayberry.
Mayberry is well known for introducing companies to the junior market. It has acted as lead arranger for 11 of 18 companies listed on the junior market.
Derrimon operates primarily from facilities at Marcus Garvey Drive, Kingston. However, its distribution network extends islandwide. The company manages a warehouse facility of approximately 100,000 square feet, sited on 3.5 acres of land.