JCGL buyer negotiating rights to Juciful - Business - Jamaica Gleaner - Wednesday | May 16, 2012

JCGL buyer negotiating rights to Juciful - Business - Jamaica Gleaner - Wednesday | May 16, 2012: "Jamaica Beverages Limited took possession of the assets of Jamaica Citrus Growers Limited (JCGL) on May 4, but the parties have three months to close the sale, says agent Wilfred Baghaloo.

Jamaica Beverages is a subsidiary of Trinidad-based SM Jaleel and Company Limited, which has struck a deal with the receiver of JCGL to acquire the loss-making operation and manufacturer of juices under the Juciful brand.

Baghaloo, who is a director of PriceWaterhouseCoopers and agent to JCGL receiver John Lee, said the three months would allow time for processing of titles and licences.

The company will also continue to operate as JCGL until the deal closes.

The terms of the sale were not disclosed, including the stake that Jamaica beverages/SM Jaleel holds, but the deal does not include the Juciful brand."

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