Andrew Green, Acting Financial Editor
Peralto ... We are building on the strength of a regional paint industry. - RICARDO MAKYN/STAFF PHOTOGRAPHER
THE BARBADOS-BASED Harris Group of Companies has acquired Jamaican paint manufacturer Brandram Henderson West Indies Limited.
Best known for its Permacote and Permaplastic decorative paints, the 45-year-old Brandram Henderson was effectively taken over on Monday, said its new general manager Ryan Peralto Jr. The former owners Dudley Horner and Mavis Bryson have retired after selling their entire interest to Harris.
"The company was well run by Mr. Horner and is strong," Mr. Peralto Jr. said. "It faces no immediate issues."
CHALLENGE
The challenge is that liberalisation and regionalisation process under way means that companies like Brandram Henderson need to get bigger in order to survive in future, he said
Former managing director Dudley Horner piloted the company around a brush with financial disaster in 1995 and subsequently built it in size and presence in the market.
Located at East Bell Road in downtown Kingston, the company has 15-20 per cent of the Jamaican house and market and a staff of 60. The Harris Group, which started operations in Barbados in 1972, has a staff of 150.
"We are building on the strength of a regional paint industry," Mr. Peralto Jr. said. Brandram-Henderson is going to face increased global competition and the link with the Harris Group gives it the "critical mass" needed to do so.
PRODUCT LINES, PHILOSOPHIES SIMILAR
The product lines and philosophies of both firms are similar, he said. Thus there are no big changes planned.
Harris paints are not distributed in Jamaica currently and there are no plans to do so now, he said. The aim is to focus on the strengths both firms enjoy in their home markets and look to niche markets overseas for growth.
On a global scale, both firms are relatively small players so there are no plans to take on the giants of North America on their home territory.
The concern now is not about setting targets for growth but about making a smooth transition. He said the goal was to build "a solid base across the region."
