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Ansa takes over Berger

Published: 
Friday, May 18, 2018

Berger Paints Trinidad Limited is now 100 per cent owned by Ansa McAL Limited.

In a notice on the T&T Stock Exchange yesterday, the company announced that as of May 10, Ansa Coatings International Limited (ACIL), a wholly owned subsidiary of Ansa McAL, had acquired the remaining 294,550 shares in Berger.

Last July, Ansa McAL completed acquisition of Lewis Berger Overseas Holdings (LBOH), a major shareholder of all three Berger companies in T&T, Barbados and Jamaica.

LBOH is a privately held United Kingdom-based company with equity-ownership stakes of 100 per cent, 70 per cent and 51 per cent in Berger Paints Barbados, Trinidad and Jamaica respectively.

The combined Berger Caribbean business has estimated net sales of US$35 million.

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