Business
Friday, August 23, 2013JAMAICA Broilers Group (JBG) on Monday inked a deal to buy poultry and pork processor Hamilton’s Smoke House for an undisclosed sum.The deal, which is expected to be completed by mid-October, should extend Hamilton’s market reach while extending Broilers’ product lines in pork.“We do chicken and beef but very little pork,” said Ian Parsard, JBG’s senior vice-president, operation and finance. “Hamilton’s has developed excellent pork products. They were somewhat constrained in terms of reach, but we are hoping to tap into markets that Hamilton’s wasn’t able to reach through our islandwide distribution network.”The two family businesses have a number of similarities that fit well into a merger of the operations, which will take place gradually.But a subtantive amount of the operations, now located in the Corporate Area, will be almagamated into JBG’s $300-million further processing facility in Spring Village, as the food processing and energy company takes further steps toward being a full-service provider.“A number of products which are currently imported by Hamilton’s can be processed locally,” Parsard told Caribbean Business Report. “Right now, there is a glut in the pork market. As we move forward in this endeavour, we hope to incorporate more farmers in Jamaica, and displace imported products with locally created ones.”Broilers, which makes Reggae Jammin’ burgers and frankfurters, doesn’t plan to change anything related to the Hamilton’s brand or the array of products, including sausages and hams, while key operating personnel have agreed to join JBG.“As part of the terms of the acquisition, Christopher Hamilton will join the Jamaica Broilers Group, bringing his extensive experience in meat processing and product development,” said a press statement issued on Wednesday.Christopher Hamilton (seated left), managing director of Hamilton’s Smoke House, shakes hands with Christopher Levy (seated second left), president and CEO of Jamaica Broilers Group (JBG) at the signing of the agreement for JBG to acquire Hamilton. Also seated are Yvonne Hamilton (second right) and Michelle Hamilton-Chatani, both of Hamilton’s Smoke House Limited. Standing: JBG’s Claudette Cooke (left), and Ian Parsard and Hamilton’s Trudie Hamilton.
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Broilers buys Hamilton"s Smoke House
