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Derrimon acquires 80 per cent stake in NY-based food stores

Derrimon Trading Limited (DTL), through its two latest acquisitions in . ....

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Derrimon to pay up to US$9 million for New York companies

Derrimon Trading s chairman and CEO Derrick Cotterell (left) and a member of staff at one of the company s local facilities.
Derrimon Trading Company Limited says it has entered into an agreement to acquire control of a food distributor and supermarket in New York.
Led by CEO Derrick Cotterell, Derrimon has incorporated a New York subsidiary, Marnock LLC, which will acquire Brooklyn-based of FoodSaver New York Inc., a wholesale food distributor and Good Food For Less, LLC (Good Food NY), a specialty supermarket.
In a release issued on the Jamaica Stock Exchange (JSE) last week, Derrimon indicated that the consideration for these acquisitions would be in the form of both cash and shares with Marnock LLC issuing a 20 per cent minority interest to Oralcrys LLC, an entity beneficially controlled by the former owner-operator of those businesses. ....

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