An iconic institution on Barbados’ business landscape could change ownership soon if its quest for a “strategic partner” is successful.
BICO, a 110-year-old ice cream manufacturer and cold storage company, is reportedly looking for a $7 million investment injection and some of its major shareholders are prepared to part with controlling interest in the company in order to get it.
Chairman of BICO, Edwin Thirlwell, confirmed yesterday that the company had engaged the services of accounting firm KPMG to help BICO find an investment partner for a 54 per cent interest in the local company.
That search has been extended regionally and globally, and Thirlwell said interest was already being generated.
The 75-year-old chairman told the DAILY NATION that he was keen on putting a succession plan in place that involved a freshly-reconstituted management team and a strategy for taking the company forward.
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