Purchased for JAM$50m, the acquisition included Meat Experts’ abattoir, cutting room, processing, packaging and cold storage facilities and logistics network, which operates from St. Catherine.
Everything Fresh is expected to spend an additional JAM$30m to upgrade the business.
This acquisition is expected to add several new products to the Everything Fresh lineup, promote the support of local livestock and produce farmers and reduce costs.
In a statement to shareholders posted on the Jamaica Stock Exchange, Everything Fresh chairman Gregory Pullen, said the business will be serving both its bulk and retail clients with additional products that will be launched under the ‘Meat Experts’ and the ‘Everything Fresh’ brands.
When the deal was first announced in December 2018, Everything Fresh said “this acquisition is expected to continue to vertically integrate Everything Fresh, reduce costs for final deliveries of products to customers, and to commence Everything Fresh’s manufacturing arm in Q1 2019”.
Meanwhile, Everything Fresh continues to “pursue other salient opportunities which exist”.