Agostini Limited has announced plans to acquire Prestige Holdings Limited through a share swap offer.
In a release today, Agostini's said under the arrangement shareholders of PHL will receive one Agostini share for every 4.8 PHL shares held.
Agostini said, "The offer represents a premium of approximately 31% over PHL’s 30-day average price (27% over today’s closing price). The offer will close at 4pm on July 21, 2025."
The Agostini group currently has operations across pharmaceuticals, consumer products, and energy and industrial. Prestige is Trinidad and Tobago’s largest restaurant management company and the transaction, subject to regulatory approvals, will expand Agostini’s portfolio into the Caribbean’s thriving retail food and beverage sector and create a range of operational synergies.
Prestige has 136 restaurants across Trinidad and Tobago and the Caribbean under globally recognized brands, including KFC, Pizza Hut, TGI Fridays, Subway, and Starbucks, employing over 3,300 staff.
Agostini, has retail brands like SuperPharm, Mpharmacy, and Presto under its umbrella.
Agostini said it "foresees significant benefits to be derived from this acquisition."
In its Offer and Takeover Circular to PHL shareholders, Agostini said: “The Company, as part of the Agostini Group, can benefit from synergies in areas such as imports, transportation, warehousing, marketing and other shared services. These synergies can lead to cost savings in the above-mentioned areas through ordering and purchasing goods in bulk, maximising the current fleet of transportation vehicles by delivering to similar or near-by locations, fully utilising warehouse and storage facilities and combining shared services to lead to a centralized operating system.”
Barry Davis, Group CEO of Agostini Ltd., said, “Prestige Holdings is a major part of Caribbean hospitality. This acquisition unlocks immediate synergies—from shared distribution networks to enhanced scale—that will deliver value to both shareholders and, most critically, value to customers. We are committed to preserving PHL’s operational excellence while integrating its strengths into our growth framework.”
Agostini said the move is in line with the group's regional expansion strategy as itn would build on its presence in more than ten markets with exports to more than thirty jurisdictions.
Davis stressed there was long-term value in the acquisition.
He said, “PHL’s proven leadership in restaurant management complements the Group’s diversified portfolio. We anticipate cumulative value through shared resources, improved cashflow and opportunities for market expansion, not just incremental revenue and synergies with Agostini’s existing retail operations. Having a broader retail and restaurant group will generate a stronger platform for continued growth in the region.”
He said there were no plans to interfere with Prestige’s proven operating model, stating, “PHL’s success is rooted in its people and processes, and we have no plans to make any operational changes to PHL’s brands or staffing.”