Massy holdings has made another acquisition within weeks of a prior purchase of the Trinidad & Tobago business operations of French company Air Liquide International S.A. This deal allows Massy to purchase 100 percent of the share capital of Air Liquide T&T for US$51.5 million – US$58 million.
The Trinidad and Tobago-based distribution company is currently on a roll. Currently, it has acquired Rowe’s IGA Supermarkets through its American subsidiary, Massy Stores (USA) LLC, for US $47 million.
Rowe’s IGA is a well-recognized brand within the Jacksonville area that was established in 2005 and already has a number of stores in operation within that location.
This deal will allow Massy Stores (USA) to purchase all equity holding of each of the seven limited liability stores within the Rowe IGA Group that belongs to the sole owner Robert Rowe.
This purchase will reflect positively on Massy’s books, the acquisition is expected to increase its pre-tax profit by seven percent.
It will also help Massy to expand within the US market and have a strategic foothold in certain areas.
