Grace and Scotiabank sign $1.8 billion deal
Caribbean Region, News
January 29, 2010

Grace and Scotiabank sign $1.8 billion deal

Douglas Orane, Chairman and CEO GraceKennedy, Simon Roberts, CEO Hardware and Lumber limited, and Bruce Bowen, President and CEO of Scotiabank, in deep conversation at a special celebratory cocktail hosted by Scotiabank for GraceKennedy at the Spanish Court Hotel on Monday.

The event was organised to celebrate the signing of $1.875-billion deal which sees Scotiabank financing the construction of a new distribution centre together with funds to purchase equipment. This centre will enable Grace to maintain all warehousing activities under one roof against the seven warehouses it currently leases. This latest deal will see Grace achieve significant cost efficiencies with its new distribution centre.

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