Seprod Limited is reorienting its playbook. With fresh US tariffs disrupting its long-standing foothold in biscuits, the Jamaican food and distribution giant is turning its full weight toward a Caribbean-first strategy—one that is beginning to look less like diversification and more like outright dominance.
At the company’s annual meeting, Chairman PB Scott steered clear of retreat language regarding the US. But his tone was unmistakable: the future lies in regional integration, not just survival in tariff-heavy markets.
A Shift in the Battlefield
The 10 per cent US duty, introduced in April, may have clipped Seprod’s edge in categories like biscuits, but it has not weakened the group’s resolve. Instead, it has validated a pivot already in motion—anchored by control of AS Bryden, consolidation of CPJ, and the rollout of logistics hubs across Trinidad, Guyana, and Jamaica.
“We’re building a 20-year business, not chasing the next quarter,” Scott told shareholders. “Every investment in pricing or distribution is about strengthening our base for the long run.”
Regional Muscle
The acquisition of AS Bryden in 2022 gave Seprod command of one of the Caribbean’s largest distribution engines. With its stake now lifted to 80 per cent, Seprod has tightened its grip on regional supply chains—allowing smoother pricing coordination and unified market entry across Caricom.
Behind the scenes, the logistics network is being rewired. A modern warehouse in Trinidad, a facility underway in Guyana, and a revamped Kingston hub are more than storage—they are regional arteries designed to pump goods seamlessly through Caricom’s veins.
“These aren’t just boxes of concrete,” CEO Richard Pandohie emphasized. “They’re strategic hubs that can feed the entire region.”
Brand Fortresses and Weak Links
Not all categories are equally exposed. Seprod’s beverages, especially Supligen, continue to hold ground thanks to brand loyalty and pricing power. Biscuits, however, have proven more vulnerable to tariff pressure and heightened US competition.
Still, management projects export volumes to rise by year-end, supported by Seprod’s ability to move Jamaican-made products duty-free across Caricom shelves.
Scale Over Short-Term Profit
On the balance sheet, Seprod is walking a familiar tightrope: heavy capital expenditure dragging down net profit, while topline revenue soars.
- 2024 performance: Revenue climbed 19 per cent to $133.6 billion, but net profit fell 27 per cent to $3.32 billion amid $5+ billion in capex.
- Q1 2025: Revenue surged 31.9 per cent to $37.7 billion, yet profit slipped to $867 million as financing costs piled up.
The group, now employing 4,500 across the region, insists the short-term squeeze is part of a bigger picture: hitting US$1 billion in revenue by 2026.
Caricom as the New Domestic Market
Scott was unequivocal: “Caricom is essentially our domestic market now. With the coverage we’ve built, growth is inevitable.”
As redundancies are stripped out of CPJ operations and new technologies sharpen efficiency, Seprod is positioning itself less as a Jamaican exporter and more as a Caribbean super-distributor.
The message is clear—tariffs may have forced a pivot, but Seprod’s regional ambitions were never about retreat. They are about consolidation, dominance, and building an empire that can outlast short-term shocks.
