Banks not selling PHD

THE PINE HILL DAIRY (PHD) is not for sale.

That was the word yesterday from Richard Cozier, chief executive officer of Banks Holding Limited (BHL), who told the MIDWEEK NATION yesterday that the group’s new owner, Brazilian beer giant AmBev had no plan to get rid of the island’s main milk and juice producer.

His comments came amidst some concern that the local milk processor might be low hanging fruit given PHD’s weak financial performance in recent years and the fact that AmBev was not involved in juice or milk production anywhere in its global operation.

“Our new parent has every intention of continuing to be in the milk and juice business for the time being as we have been for a number of years. There are certainly no plans to divest [of the Pine Hill Dairy],” Cozier made clear.

Please read the full story in today’s Midweek Nation, or in the eNATION edition.