The Gleaner
July 20, 2022

Derrimon mulls more foreign acquisitions

The Gleaner

Derrimon Trading Group is on the hunt to acquire another business beyond Jamaica’s shores, a potential deal directly targeted at getting the company closer to its goal of having 50 per cent of revenues coming from foreign markets.

“We can’t say yet at this time. We are still looking,” CEO Derrick Cotterell told the Financial Gleaner this week, when asked about the new acquisition possibility.

For years during the early stages of its operations, the Derrimon Group had what Cotterell described as “minuscule” foreign revenue from original subsidiary Caribbean Flavours and Fragrances, but a refined focus on diversifying revenue flows began in 2021 with the acquisition of Brooklyn, New York, United States-based grocery businesses, FoodSaver New York and Good Food for Less.