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Wednesday, July 16, 2025

Agostini plans to acquire Prestige Holdings

by

Peter Christopher
29 days ago
20250616
The commercial property owned by Prestige Holdings northwest of the Curepe Interchange along the Churchill Rosevelt Highway in Curepe.

The commercial property owned by Prestige Holdings northwest of the Curepe Interchange along the Churchill Rosevelt Highway in Curepe.

ROGER JACOB

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.”

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