T&T conglomerate ANSA McAL Ltd is seeking to raise US$15.31 million through the sale of shares in the Barbadian company, Roberts Manufacturing Ltd, which is preparing to list on the island’s stock market next month.
ANSA McAL and Jamaica’s Proven Group Ltd now own 49.50 per cent and 50.50 per cent of Roberts Manufacturing, respectively.
The current owners of Roberts are selling part of their holdings and are expected to receive a combined US$30.16 million from the sale of ordinary shares priced at US$0.50 or BB$1.00 each.
If the share offer is fully subscribed, ANSA McAL would retain a 25 per cent stake in the company, while Proven would remain with 25.5 per cent.
Roberts Manufacturing, a Barbadian producer of livestock and pet food, edible oils, margarines and shortenings, will not receive any proceeds from the offer.
“This opportunity represents a compelling investment in a company that harmonises a rich legacy with forward-looking innovation, regional presence with international standards, and sound financial management with strategic ambition,” wrote Directors Garfield Sinclair and Frances Bain-Cumberbatch in a letter to prospective investors.
Roberts recorded a 10 per cent fall in sales to US$66.87 million, reflecting the loss of a major feed contract and temporary disruptions to export business. Even so, lower administrative expenses and a one-off rise in other income pushed net profit up 41 per cent to US$5.70 million, of which US$4.59 million was attributable to shareholders.
During the March 2025 period, Proven and ANSA collected US$4.7 million in dividends and US$1.80 million in management fees from Roberts. Those management fees, however, are to be removed once the company is listed on the BSE, with Roberts moving to a 50 per cent dividend policy.
ANSA McAL’s decision to realise capital from the Roberts offer forms part of the wider reallocation of funds in support of its 2X strategy for 2027. IDB Invest has approved a US$200 million loan for ANSA’s capital investment programme and working capital in Trinidad & Tobago. Although the facility has not yet been signed, it stands as one of the key supports behind the conglomerate’s plan to double the group. ANSA also divested ANSA Technologies, Standard Distributors, Brydens Xpress and Retail in 2025.
For 2025, ANSA reported a 9 per cent increase in revenue to $7.79 billion, while profit before tax climbed 10 per cent to $1.01 billion. Net profit attributable to shareholders, however, slipped one per cent to $565.17 million.
“As we enter 2026, our priorities are to maintain margin and cost discipline, manage balance-sheet strength and allocate capital to the best-return opportunities within our core businesses,” said ANSA McAL chairman Norman Sabga in his statement on the 2025 results.
