GODDARD ENTERPRISES LIMITED (GEL) has signed an agreement with Art Holdings Inc. (Art Holdings) to acquire 100 per cent of the shares in Marshall Trading Limited (Marshall Trading), a subsidiary of Art Holdings.
The agreement took effect from June 30, 2017. However, the complete transfer process should be concluded in three months’ time, though the company will now fall under the guidance of GEL following the signing of the Share Purchase Agreement by directors representing both parties.
According to Marshall Trading director Hugh Blades, the company sees GEL as the “perfect fit to take the Marshall Trading brand to new levels of growth and competitiveness based on the synergies they can bring to the business through their regional hardware business”.
Managing director and CEO of GEL, Anthony Ali, said that it is the company’s intention to continue the Marshall Trading operation with the full complement of staff. General manager Philip Mayers will remain at the helm working with the new owners to take the company forward.
GEL has been involved in the building supplies industry for more than fifty years in St Lucia and St Vincent and the Grenadines, and also in Grenada for more than a decade.
The addition of Marshall Trading to the GEL Automotive, Building Supplies and Services Division headed by Ian Alleyne, bears out the Group’s strategy to focus on areas core to its business and bring value to its shareholders and employees, and the twenty-two countries in which it operates. (PR)
