Since announcing its new expansion strategy, the Massy conglomerate has acquired three companies in the United States, Jamaica and Trinidad and Tobago.This has been revealed by Robert Bermudez, chairman of the Port of Spain-headquartered group of companies in its published consolidated financial statements for the quarter ending December 31, 2022.The Massy Group, which has significant holdings in Barbados and across the Caribbean, revealed it completed the buyout of Rowe’s IGA supermarkets in Jacksonville, Florida for US$47 million; Air Liquide’s operations in Trinidad for US$57 million and IGL Jamaica, a liquified petroleum gas company, for US$140 million.Bermudez noted that the financing for the purchases came from a special fund the group established from the sale of non-core assets of the Massy Group including some in Barbados. The company currently has the iconic Dome building and mall at Warrens, St Michael up for sale.
