Some of your favourite global butter brands will now be made in Jamaica!

Jamaican manufacturing company Seprod has just scored a major deal to produce butter for some of the world’s biggest and most recognizable brands!

Seprod has entered into an agreement with Upfield, a global leader in the production of margarine and butter.

Now this is massive!  Because before this agreement, popular consumer brands such as I Can’t Believe It’s Not Butter, Blue Band, and Imperial were being produced in Trinidad and Tobago.

Now all of this will be done at  Seprod’s Spanish Town Road-based oil and margarine subsidiary, Caribbean Products Limited, CPL. 

This is the first time ever in CPL’s history that the company has been contracted to manufacture products for a company outside of Jamaica.  Its previous contracts were with local companies such as GraceKennedy, Lasco and Kendel.

So how will Seprod take on all this extra workload?

They’ve injected a reported US$6 million into building out and upgrading their production capacity.

They’re also seeking to produce 15 stock keeping units under Upfield’s six brands. 

The earnings are projected to add US$3 million to Seprod’s bottom line annually.

For the nine months ending September 30, 2023,  Seprod Group achieved revenues of J$82 billion.  That’s up 60% over the corresponding period last year! 

Net profit was almost $4 billion, up 51% over the prior year.

It’s a magnificent turn of events from just two years ago when a fire at Seprod’s warehouse caused a billion dollars in damage. 

Seprod CEO Richard Pandohie says he plans to grow the business to a whopping US$1 billion in revenues in two years, which will require doubling its annual sales!  Can they do it?  I’m here for the journey!

Seprod ended trading on December 18 at $73.40.  And you might wanna bookmark this video because I’m excited to see where this stock goes.

And that’s the bottom line.