Two Barbados-based Companies now owned by Trinidad and Tobago conglomerate ANSA McAL Limited will be officially under Barbadian control come Independence Day.
The expected November 30 acquisition of a majority shareholding in Brydens Retail Inc and Brydens Xpress (Office Supplies) Inc by Greenbow Inc comes days after ANSA McAL announced the sale of another subsidiary, furniture and appliance retailer Standard Distribution and Sales Barbados Ltd, to Term Finance (Trinidad & Tobago) Ltd.
Barbadian company
On November 14, ANSA McAL announced that its majority shareholding of Brydens Retail and Brydens Xpress was being sold to Greenbow Inc, a Barbadian company led by Graham Greenidge and Sean Boland, both long-standing executives in the business.
Greenidge, director of Greenbow Inc and current general manager of the two Brydens companies, said: “This is an exciting milestone for our team and for Barbados. Having been part of the Brydens journey for many years, we are proud to continue building on the solid foundation laid under ANSA McAL.
“Our focus remains on our customers, our employees and our commitment to quality service and trusted relationships,” he said.
Harry Lashley, continuing shareholder and a partner in the business, stated: “It has been a pleasure partnering with ANSA McAL over the years. I look forward to this new chapter with Greenbow, working alongside a team that knows the business inside and out.
“This transition brings renewed energy and continued commitment to serving our customers and community.”
Officials explained that following the transaction, Brydens Stationery and
Brydens Xpress “will continue to operate under their existing names, with no disruption to day-to-day operations.
“Customers can expect business as usual, with the same trusted service, familiar faces and dedication to quality that have long defined both brands.”
Brydens Stationery sells stationery, books, school supplies and general consumer goods from three locations, while Brydens Xpress is a wholesaler and distributor of products and small appliances, stationery, office supplies, office equipment and office furniture to schools, corporations and Government institutions.
Similar to when they announced the sale of Standard Distribution here and Standard Distributors Ltd in Trinidad, ANSA McAL said the sale of the two Brydens entities “forms part of ANSA McAL’s 2X strategy, which focuses on portfolio optimisation and disciplined investment in growth areas across the group”.
The regional conglomerate’s chief strategy officer Andre Jeffers said: “Brydens Stationery and Brydens Xpress have played an important role within the ANSA McAL Group, and we are proud of their legacy and contribution to the Barbados market.
“The sale to the current management team ensures strong local continuity, with leadership that deeply understands the business and its customers.”
Those involved in the deal said it will be “a seamless transition in ownership, ensuring full continuity of leadership, operations, and service”. ( SC)
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