HISTORY AND NATURE OF BUSINESS

Associated Brands Industries Limited (ABIL) is the leading manufacturer and distributor of snack foods, chocolate confectionery, biscuits and breakfast cereals in the Caribbean. The Company has been in existence since 1974 and over the years has built up an extensive portfolio of brands including a range of about two hundred and sixteen (216) sku’s under the brand names Sunshine Snacks, Charles Candy, Devon Biscuits and Sunshine and Universal Cereals.

The Company’s manufacturing facilities are all located in Trinidad with distribution outlets in Jamaica, Barbados and St. Lucia. In total, the Company currently distributes its products to over 20 countries worldwide, reaching as far as Taiwan and Ireland. The Company has been expanding progressively over the years, constantly adding new products to its lines. During 2000, it began an extensive expansion that included redesigned production facilities, additional warehousing space as well as a new three-story corporate office complex.

The Company is headed by Arthur Lok Jack, one of the foremost businessmen in Trinidad and Tobago and the Caribbean. Mr. Lok Jack has been a key factor in the Company’s success over the years and he is supported by a team of highly qualified individuals all with long standing track records with the Company.

ABIL’s success encompasses unique and innovative merchandising, aggressive promotional and advertising programs as well as competitive pricing. The Company’s pricing strategy as well as the quality of its products has ensured affordable products to all.

ABIL’s marketing strategy is aimed at achieving growth via market penetration, market expansion and product diversification. In order to grow its market and customer base even further, the Company is currently developing a number of new market initiatives aimed at further enhancing its position throughout the Latin American region.

Specifically, expansion thrusts are being made into the Venezuelan, Colombian and the Dominican Republic markets. The company also manufactures a wide range of products for many supermarkets under their private labels, especially in the breakfast cereal category.

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BUSINESS AND OPERATIONS

ABIL's operations are divided along four divisions, Charles Candy, Sunshine Snacks, Consolidated Biscuits and Universal Foods.


CHOCOLATES - Charles Candy Division

The Charles Candy operation commenced in 1974 producing a range of chocolate products. Production expanded shortly thereafter to include plain as well as chocolate covered wafers. Today, the Charles Candy division produces 56 sku's.

The division currently manufactures the following products:

• Tablet bars;
• Chocolate coated panned products – peanuts, raisins, almonds;
• Chocolate coated wafers;
• Candy bars.

SNACKS - Sunshine Snacks Division

The Sunshine Snacks Division was formed in 1977 and like the Chocolate Division, has steadily expanded its product range over the years. Sunshine Snacks presently manufactures the widest range of products of any snack manufacturer in the region , with 82 sku's.

The division manufactures a range of products such as:

• Potato chips
• Tortilla and Corn chips
• Children's corn products
• Cheese curls, cheese balls and other extruded products
• Nuts
• Peanuts (salted, honey roasted, or with raisins)
• Cashew nuts
• Mixed nuts
• Sun mix- mixed nuts with dried fruit

BISCUITS - Consolidated Biscuits Division

The Consolidated Biscuits Division was formed in 1987 as a joint venture between ABIL and United Biscuits of England, the largest biscuit manufacturer in Europe . In 1996, ABIL acquired the minority shareholding from United Biscuits, becoming the sole owner of the Division.

At present Consolidated Biscuits produces approximately 26 different sku's such as:

• Devon digestives (individual and roll packs)
• Chocolate digestives (individual packs)
• Sandwich biscuits (individual and slug packs)
• Sweet biscuits without cream filling (roll packs)

CEREALS - Universal Foods Limited

Universal Foods Limited (UFL) is a subsidiary of the Associated Brands Investments Limited Group of companies. It is a world-class manufacturer of Ready To Eat (RTE) breakfast cereals and is the only RTE cereal manufacturer in the region.

UFL began operations in August 1986, and currently manufactures twenty types of cereals under seven different brands , with a total of 52 sku's.

Some of the traditional cereals are as follows:

• Corn Flakes
• Frosted Flakes
• Nutty Flakes ‘n' Honey
• Bran Flakes
• Raisin Bran
• Oat Bran Flakes

Some of the extruded cereals are:

• Froot OOO's
• Chocolate Raves
• Strawberry Raves