Trinidadian firm, Agostini’s Limited has acquired a 40 % stake in local distribution company DeSinco Limited.
“I believe this merger puts us in a position of strength and will allow us to expand the company as well as keep up the good reputation we have built over the years” DeSinco’s Managing Director Frank DeAbreu said in a statement yesterday to Stabroek News. “We want to provide excellent service and improve distribution, as well as adding new products to our existing portfolio,” he added.
The statement noted that the company is headed in a new direction after selling shares to Agostini’s Limited and as of 1st January 2015, now trades under DeSinco Limited. DeAbreu stated that the change from sole proprietorship to a merged company will be beneficial to all parties involved.
According to the Trinidad Guardian, in a notice to shareholders posted on the T&T Stock Exchange (TTSE) on Tuesday, Agostini’s company secretary, Rajesh Rajkumarsingh, des-cribed DeSinco as well established in the distribution trade and “a respected member of the Guyanese business community.”
“Agostini’s views this investment as an excellent strategic fit and we look forward to working with the DeSinco team in building the company over the coming years,” he said.
Agostini’s Limited was established in 1925 with its principal areas of business being pharmaceutical and personal care distribution and retail, food, grocery and beverage distribution.
