Salada switches distributors - Geddes Grant loses out to Lasco
Published:Wednesday | January 8, 2014 | 12:00 AM
Lasco Distributors Limited has snatched the distributorship for products of Salada Foods Jamaica Limited from competitor T. Geddes Grant.
Salada is a producer of coffee, a range of other beverages, drink mixes and dessert products. On Tuesday, the company announced the changeover of exclusive distribution rights to Lasco, effective January 2.
Salada's partnership with T. Geddes Grant, a subsidiary of Musson Jamaica, was terminated two days earlier on December 31, 2013.
Salada is the largest of four coffee processing plants in Jamaica, and the only soluble coffee processor in the Caribbean. The company has been in the coffee processing business since 1958.
Salada expanded in 2013 with the acquisition of Roberts Products Company Limited for J$34.6 million, through newly created subsidiary Mountain Peak Food Processors Limited.
The Roberts line includes baked beans, syrups, canned juices, jams and jellies, sauces and spices. The acquisition added to Salada's mostly coffee-based products packaged under the Jamaica Mountain Peak brand.
Salada's turnover at year end September 2013 amounted to $634.43 million, down from $715.61 million a year earlier. Its website indicates a portfolio of 17 products excluding the Roberts range.
Julian Rodney, managing director of Salada Foods, was not available for comment on the change of distributors yesterday; neither was Peter Chin, the managing director of Lasco Distributors.
Attempts by Wednesday Business to reach Michael Subratie, a director of Musson Jamaica Limited to whom Wednesday Business was directed for comment, were not successful.
T. Geddes Grant is a much older company than Lasco and has been in operation since 1901. The distribution and logistics company is known for pharmaceuticals, agriculture, merchandise, and office supplies.
Lasco was founded in 1988 by Lascelles Chin. The group was split into three affiliates in 2010, each of which was listed on the junior stock market.
Lasco Distributors currently handles a portfolio of 70 products comprising pharmaceuticals and grocery items, as noted on its website. The company's annual sales currently top $8 billion.