Diasporic Entrepreneurship in the Caribbean - Firm Profiles.pdf Vol 2 | Page 29

Agro-processing Firms

10. GRACE KENNEDY FOODS INTERNATIONAL
Company Background:
GraceKennedy is one of the Caribbean’s
largest and most dynamic corporate entities.
The company started in Jamaica in 1922 as
a small trading establishment and wharf
operators. It has expanded and diversified over
the years, changing from a privately owned
enterprise to a public company listed on the
Stock Exchanges of Jamaica, and Trinidad and
Tobago.
Today, the GraceKennedy Group comprises
a varied network of some 60 subsidiaries
and associated companies, located across the
Caribbean and in North and Central America
and the United Kingdom.
Operations span the areas of food processing
and distribution, banking and finance,
insurance and remittance services, together
with an investment in building materials
retailing. GraceKennedy transformed the
company from a Jamaican trading company to
a global consumer group with roots in Jamaica.

In December of 2002, Grace, Kennedy
Export Trading was renamed Grace Foods
International (GFI) to reflect a more accurate
description of the international marketing
focus of the organization and its vision of
building brands. Today the company has
expanded into mainstream international
markets while continuing to focus on its core
Caribbean consumers. As a result of a greater
focus on research and development, Grace
Foods International now has products that are
manufactured exclusively for its international
markets.

Today, the company is substantially larger and
stronger, measured by growth in revenues,
productivity, profits and market value, with
a mission, ‘To take the taste of Jamaican and
other Caribbean foods to the world and
provide world-class financial services to the
region.20 (See Organisational Chart)

Each year GFI expands into new markets, as
part of the mandate to build Grace-owned
brands. Today GFI markets their products in
over 38 countries around the world. In 2006
GFI embarked on a test-marketing programme
in Africa starting with Ghana. These ventures,
along with a continued programme of
innovation, have resulted in c