Derrimon Trading Company is reporting that its online platform peaked at a growth rate of 300 per cent during the early stage of the coronavirus pandemic and stabilized into consistent growth thereafter.
Chairman Derrick Cotterell said notwithstan
Loop News - Updated
Derrimon Trading s Chairman and CEO Derrick Cotterell said May Pen residents desire a comfortable and convenient shopping experience.
Derrimon Trading has begun construction of a new supermarket at the Millennium Mall in May Pen, Clarendon.
Chairman and CEO Derrick Cotterell said the company is investing over $500 million in the supermarket, which will operate under the Select Grocers brand.
The development is expected to be completed by year-end (fourth quarter 2020), Cotterell told
Loop News, adding that May Pen residents desire a comfortable shopping experience.
The food distributor Derrimon Trading Limited is also reporting a 62 per cent increase in net profits for the three months ended March 31, 2021, up from the $61.79 million earned in the corresponding quarter of 2020.
Derrimon Trading chairman and CEO Derrick Cotterell.
Derrimon Trading Company Limited (DTL) has completed the transaction to acquire control of two New York-based food companies for US$8.9 million.
The company, in a notice via the Jamaica Stock Exchange (JSE) said it completed the transaction as a going concern on the terms set out in its announcement on January 8, 2021.
Derrimon has also advised that as of March 5, 2021, it redeemed all of its nine per cent cumulative redeemable preference shares due in 2021. To this end, it has applied to have the preference shares delisted from the JSE.
In January 2021, Derrimon Trading entered into the definitive agreement to acquire control of the Brooklyn-based operations of FoodSaver New York, Inc. (FoodSaver NY), a wholesale food distributor and Good Food For Less, LLC (Good Food NY), a speciality supermarket.