Conglomerate GraceKennedy Limited has announced that discussions are underway for the acquisition of one of Jamaica's largest distributors, Consumer Brands Ltd.

The news, which came by way of a press release on Friday, says the company is looking to have 100 per cent ownership of the distribution company by the end of the year.

The conglomerate has it eyes on the Procter and Gamble (P&G) line of products which Consumer Brands has been distributing in Jamaica since 1992.

According to GraceKennedy, P&G brands are some of the most recognisable, international, fast-moving consumer goods — with household names such as Charmin, Bounty, Ariel, Downy, Tide, Always, Tampax, Pampers, Febreeze, Crest and Olay among its products.

The company also distributes products for 10 other international and local principals through chain and independent supermarkets, wholesalers, pharmacies, beauty supply outlets, and convenience stores.

GraceKennedy reckons that with sales of over $2 billion annually and consistent growth since establishment, Consumer Brands Ltd is fit for acquisition by the group.

“This valuable portfolio of brands brings welcomed expansion to the range of products that we distribute in Jamaica. Our expertise in managing top-tier brands and deep distribution channels make us a natural fit for this acquisition, and we expect the products to continue to perform very well,” said Group CEO Don Wehby.