Bridgetown, Barbados – Goddard Enterprises Ltd. (“Goddard”) has concluded the formation of Ecuakao Group Ltd. (“Ecuakao”), a Cayman Islands company that is dedicated to the sourcing, processing and distribution of cocoa beans and cocoa products. Concurrent with its formation, Ecuakao, together with its Ecuadorian subsidiary, Ecuador Kakao Processing Proecuakao S.A. (“Ecuakao Processing”), entered into definitive agreements to acquire substantially all of the assets of Transmar Ecuador Cía Ltda. and its subsidiary, Cacao Dream del Ecuador S.A. Dreamcacao. Those assets include a cocoa processing facility in Guayaquil, Ecuador. Ecuakao will also engage in cocoa trading through another subsidiary, Ecuakao Trading Co. in Uruguay.
“With the launch of Ecuakao and its acquisition of Transmar Ecuador, Goddard is excited to be entering the cocoa business,” according to Mr. Ali. “We are fortunate to be able to build on the success of Transmar’s Guayaquil operations to further Goddard’s strategic growth.”Mr. Ali.
The business activities of Ecuakao commenced officially on Friday, March 16, 2018. The acquisition of Transmar Ecuador’s facility and operations is expected to close in the next several weeks.
About Goddard Enterprises Ltd.
Goddard Enterprises Ltd is a publicly traded company based in Barbados and has been operating since 1921 in the Caribbean and Latin America. Its most internationally recognized business is the Goddard Catering Group, which is the leading provider of high quality airline catering to many of the world’s leading commercial air carriers in twenty-one countries in the Caribbean and Latin America. Beside its catering business, the group operates in manufacturing & services, automotive building supplies & services, and corporate & financial services.
Continuing diversification and entrepreneurial development have led to the strong position the company enjoys today. Goddard now operates over 50 business units across 23 countries stretching from Canada to Uruguay, employing over 6,500 staff members.