CPJ enjoying positive visibility and exposure
Published:Tuesday | March 29, 2016 | 12:00 AMDaviot Kelly
Caribbean Producers Jamaica (CPJ) Limited was founded in 1994 to service the hospitality industry as an integrated food-service distributor.
Headquartered in Montego Bay, St James, CPJ is a recognised wholesaling, distribution, and manufacturing company. It listed on the Jamaica Stock Exchange's Junior Market on July 20, 2011. Executive chairman of CPJ Mark Hart said the company was desirous of getting capital infusion to expand into Kingston with CPJ Market and to set up a CPJ subsidiary in St Lucia.
CPJ has become Jamaica's leading food-service distributor and the fastest-growing distributor in the retail sector. Hart believes that since enlisting, the company has benefited from visibility and positive exposure.
"The company has performed well. We have expanded our offerings, added a subsidiary, and our results are reflecting this," he said.
Earlier this year, CPJ reported an increase in revenue for the second quarter ended December 31, 2015. Revenue for the quarter was up nine per cent to US$24.9 million.
The CPJ St Lucia Limited Distribution Centre and Meat Processing Facility, a joint venture between the company and St Lucia's Du Boulay's Bottling, opened in November 2015.
Over the years, CPJ has expanded from its original distribution emphasis. It formed a retail sales division in 2003 to service the market for international wines and spirits. By adding several popular beverage brands, this division has quickly become the main area of growth for the company.
To support the retail trade division, merchandising services were also started in 2003. Full merchandising services have been offered nationally for over 10 years. Another division, CPJ Market, is a literal one-stop shop for groceries and all the brands associated with fine dining. CPJ also operates the swanky CRU Bar, a popular Corporate Area chill spot.
THE BIG BOYS
The company continues to expand, and provided the projections hold, will soon be looking to trade with the 'big boys'.
"CPJ expects to migrate to the main exchange (of the Jamaica Stock Exchange) in due course," said Hart. "The experience has been transformative for the company and we hope that it opens up new markets and opportunities for the company in the long run," he added.
Board members are Mark Hart, executive chairman; Tom Tyler, CEO; Anthony Hart, non-executive director; Ronald Schrager, non-executive director; Robert J. Hooker Jr, non-executive director; Mark Hall, non-executive independent director; Jan Polack, chief financial officer; Theresa Chin, non-executive director and company secretary; L. Camille Shields, non-executive independent director; and Sandra Glasgow, mentor to the board.