Salada Foods' new subsidiary, Mountain Peak Food Processors Limited, will be reintroducing the Roberts brand of jams and jellies and other canned foods to the market by mid-year.
Mountain Peak was used as the vehicle to acquire 80 per cent of the assets of Roberts Products Company Limited for J$34.6 million last year. The other 20 per cent was retained by the original owners of the company.
Chairman of Salada Foods Jamaica Limited, John Bell, said the assets include plant and property, machines and equipment, trademarks and certain inventories, and that no liabilities were transferred in the deal.
Bell said Salada has been on the lookout for new areas of investments for some time, hoping to diversify its offerings and when the opportunity arose in May 2012 they entered into the agreement to acquire these assets.
He said the product line will remain substantially the same, but there is also the prospect of introducing new products in the future.
The Roberts lines include baked bean, syrups, canned juices, jams and jellies, sauces and spices. These will add to the mostly coffee-based products that Salada manufacturers under the brand Jamaica Mountain Peak.
Bell said Salada would be retaining the brand name Roberts because it is recognisable both locally and internationally.
"We bought a company called Robert's Products Company Limited last year that had a pretty good reputation, both local and international, in terms of its products. The brand was recognisable. However, they were having some problems and the products started to dwindle until eventually they shut down," Bell told the Financial Gleaner on the margins of the company's annual general meeting on Wednesday.
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