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Loop News - Updated Derrimon Trading s Chairman and CEO Derrick Cotterell said May Pen residents desire a comfortable and convenient shopping experience. Derrimon Trading has begun construction of a new supermarket at the Millennium Mall in May Pen, Clarendon. Chairman and CEO Derrick Cotterell said the company is investing over $500 million in the supermarket, which will operate under the Select Grocers brand. The development is expected to be completed by year-end (fourth quarter 2020), Cotterell told Loop News, adding that May Pen residents desire a comfortable shopping experience. The food distributor Derrimon Trading Limited is also reporting a 62 per cent increase in net profits for the three months ended March 31, 2021, up from the $61.79 million earned in the corresponding quarter of 2020. ....
Derrimon Trading chairman and CEO Derrick Cotterell. Derrimon Trading Company Limited (DTL) has completed the transaction to acquire control of two New York-based food companies for US$8.9 million. The company, in a notice via the Jamaica Stock Exchange (JSE) said it completed the transaction as a going concern on the terms set out in its announcement on January 8, 2021. Derrimon has also advised that as of March 5, 2021, it redeemed all of its nine per cent cumulative redeemable preference shares due in 2021. To this end, it has applied to have the preference shares delisted from the JSE. In January 2021, Derrimon Trading entered into the definitive agreement to acquire control of the Brooklyn-based operations of FoodSaver New York, Inc. (FoodSaver NY), a wholesale food distributor and Good Food For Less, LLC (Good Food NY), a speciality supermarket. ....
Proven halts its US$ APO subscription jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.
Accordingly, an additional 301,301,069 in new ordinary shares will be made available in the invitation. Moreover, with the invitation already oversubscribed, Derrimon will not seek an extension to the closing date or time of January 26, 2021. Derimon’s APO opened on January 6, 2020, making available new shares in the capital of the company, and aiming to raise about $3.5 billion to fund acquisitions and general investment in its operations. Related Article A total of $1.1 billion of the amount is expected to assist with the acquisition of two US-based food companies. Earlier this month, Derrimon announced that it had entered into a definitive agreement to acquire control of Brooklyn-based operations FoodSaver New York, Inc. (FoodSaver NY), a wholesale food distributor and Good Food For Less, LLC (Good Food NY), a specialty supermarket. ....