Athol Smith Selling His Local Procter and Gamble Distribution Company, Consumer Brands, To GraceKennedy
Athol Smith, Managing Director of Consumer Brands Limited, a large player in the Jamaican distribution market has agreed to sell his privately held distribution company to the GraceKennedy Group. Under the deal announced last week Consumer Brands will become a subsidiary of the GraceKennedy Group under GraceKennedy Foods. Athol Smith will remain with the company as an advisor during the transition period with the acquisition expected to be finalized before the end of Q3 2017.
Smith founded Consumer Brands Limited in 1992 having resigned his position as Senior General Manager for GraceKennedy Merchandise Division as it was known at time.
Among the brands distributed by Consumer Brands is the Procter and Gamble (P&G) line of products which the company has distributed in Jamaica since 1992. P&G brands are some of the most recognizable international fast moving consumer goods with household names such as Charmin, Bounty, Ariel, Downy, Tide, Always, Tampax, Pampers, Febreze, Crest and Olay among its products.
Consumer Brands also distributes products for ten other international and local principals through chain and independent supermarkets, wholesalers, pharmacies, beauty supply outlets and convenience stores. With sales of over $2 billion annually, the company has consistently achieved significant annual revenue growth since its establishment.
“This valuable portfolio of brands brings welcomed expansion to the range of products that we distribute in Jamaica. Our expertise in managing top tier brands and deep distribution channels make us a natural fit for this acquisition and we expect the products to continue to perform very well,” said Don Wehby, Group CEO of GraceKennedy, indicating also that GraceKennedy was very excited about this acquisition and look ed forward to working with P&G and all other stakeholders.