News / Seatrade and Jamaica Producers in joint-venture to take over Geest Line

One of the longest-serving names in UK shipping is set to disappear, as Geest Line yesterday announced it would be acquired by the world’s largest reefer shipping operator, Seatrade, in a 50:50 JV with Jamaican food specialist Jamaica Producers (JP).

The purchase sum was undisclosed, but in a filing to the Jamaica Stock Exchange, JP CEO Jeffrey Hall suggested the deal was part of its vertical integration strategy.

“This acquisition is a key component of JP’s strategy to continue to strengthen and ...