KINGSTOWN, St. Vincent, CMC – The Coca-Cola bottling subsidiary, KOSCAB Holdings Ltd. (KOSCAB), and Cervecería Nacional Dominicana, S.A. (CND) have agreed for KOSCAB to acquire St. Vincent Brewery Ltd. (SVBL) among other companies in the Caribbean.
The agreement will result in KOSCAB, a regional Coca-Cola bottling partner with operations in Grenada, St Vincent and the Grenadines, St. Kitts-Nevis, and Antigua and Barbuda, buying from CND, SLU Beverages, LTD., the companies’ shareholder, which is part of the global beverage company Anheuser-Busch InBev SA/NV (ABI).
“This strategic agreement is subject to pending regulatory approval and the completion of comprehensive and required due diligence processes,” ABI said in a statement, adding that the deal presents an exciting opportunity to unite both businesses under one parent company.
“KOSCAB is dedicated to enhancing local and regional commercial operations to promote the growth and success of some of the region’s most iconic brands, including Pine Hill, Banks Holding Limited (BHL), Hairoun, and all Coca-Cola-affiliated products.”
KOSCAB’s general manager, Andre Thomas, said the decision is “a natural progression” following their role as the distribution and commercial co-venturer with BHL since 2018.
“KOSCAB believes this acquisition will yield positive outcomes for all parties involved, as their world-class expertise in the beverage sector will help exceed consumer quality expectations,” the statement said.
The country head of BHL and SVBL, Shafia London, said local customers will continue to enjoy the same great taste from the companies’ beverage offerings, expressing complete confidence in KOSCAB’s ability to elevate the combined businesses to new heights.
“KOSCAB is poised to rejuvenate the industry in a way that maximizes benefits for the people of St. Vincent and the Grenadines,” she said, adding that there would be no disruption to service delivery during the transition period.
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