January 20, 2022

Derrimon Trading Company Expands Export Portfolio With 100% Acquisition Of Spicy Hill Farms

(Kingston, Jamaica) Derrimon Trading Company Limited (“DTL” or the “Company”), a major distributor of consumer goods and a publicly listed company on the Jamaica Stock Exchange, has acquired 100% ownership of Spicy Hill Farms brand effective January 10, 2022. This was announced by the company in a statement to the Jamaica Stock Exchange published on January 18th which disclosed the details of the acquisition.

The Trelawny based, Spicy Hill Farms, an award-winning manufacturer of the authentic Jamaican Ram Goat Soup “Mannish Water” was incorporated in 2006 by its founder, the late Mr. Brascoe Lee, former member of Parliament for South Trelawny and State Minister in the Ministry of Agriculture and includes a range of authentic Jamaican products.

The Spicy Hill line of products includes; Ram Goat Soup “Mannish Water”, Ram-It-Up “Curry Goat Booster”, Granulated Scotch Bonnet Pepper, and Dried Thyme Leaves. These products are manufactured by the Company and are currently available in over 200 retail outlets throughout the island in addition to major stores within markets such as United States, Canada, the United Kingdom and the Caribbean.

“We are very pleased with this new acquisition, and see the great opportunity that the Spicy Hill Farms brand has in both the local and major diaspora markets. This acquisition will also play a major part of our growth strategy of broadening our range of products. Through Derrimon Trading, we will be distributing the product line within the local and other international markets including the USA, Canada and the UK where it presently exists, and will be increasing our manufacturing capacity to ensure the constant supply of existing and new products,” stated Derrimon Trading Company Ltd, Chairman and CEO, Derrick Cotterell.

The Company will be relocating the factory from its Trelawny base to a newly modern factory which they are currently constructing at 235 Marcus Garvey Drive, Kingston 11. With this newly built plant, the Derrimon group projects an increased growth in sales, the introduction of many new products and an increase in innovation through distribution given the markets and channels that they wish to serve.

Brandon Lee, Managing Director and grandson of the late Brascoe Lee, founder of Spicy Hill expressed his confidence in Derrimon Trading being able to achieve his grandfather’s vision of expanding Jamaican products to the world.

“We feel confident that DTL will expand the product’s footprint as well as create opportunities for both the export and local market. Our products are derived from natural ingredients, which is why we want to ensure consistency. We are in the process of building a new manufacturing plant and transitioning our existing team in an effort to increase our ability to supply the market with the great taste they have become accustomed to. We are excited for the possibilities and congratulate DTL for their vision. It was my grandfather’s legacy to see the brand grow. As part of the transition, I will continue to be intricately involved in the set-up of the new facility, production and introduction of new products to market,” Brandon Lee, Managing Director, Spicy Hill Farms Ltd.

About Derrimon Trading Company Limited

Derrimon Trading Company Limited is a major distributor of consumer goods to the Jamaican market since 1998 with principal operations located at 235 Marcus Garvey Drive, Kingston 11; The company also operates the Sampars Cash & Carry and Select Grocers retail locations, with controlling interests in Caribbean Flavours & Fragrances and Woodcats International. Derrimon’s extensive portfolio also includes New York businesses such as Food Savers NY Inc. and Good Foods For Less LLC NY and recently acquired Spicy Hill Farms, in addition to logistics support, warehouse storage rental, and cold storage facilities. Their extensive distribution network and online shopping ensures effective engagement between supermarkets, wholesalers, grocery stores, pharmacies, convenience stores and food service channels.