Big things to come from Bluedot, GK partnership

Big things to come from Bluedot, GK partnership

Equity Trader at Jamaica Money Market Brokers (JMMB), Clive Charlton, says that the partnership with GK and Bluedot could be what the company needed to propel it as a major player on the international market.

Bluedot is a research and data intelligence consultancy that uses data collection and analytics to inform business insights and decision making.

The GraceKennedy (GK) Group recently announced that it has entered into an agreement with Bluedot for a private equity investment.

The investment will see GK acquiring a majority stake in the company; however, it will not be directly involved in daily management. Founder and CEO, Larren Peart will remain as managing director.

This will be Bluedot’s second attempt at private equity investment as the company had previously sold majority of its shares to the troubled SSL Venture Capital. Peart was able to regain all the shares that were previously sold to SSLVC earlier this year.

Speaking on Taking Stock with Kalilah Reynolds, Charlton added that the move will open doors for both Bluedot and GK.

“I think this is good for Bluedot and Mr Peart because I think he was looking for that type of seed investor who could help his company along the way. I think [Bluedot] is in better stead now with one of Jamaica’s oldest and largest conglomerates,” he said.

He added that the investment will open various opportunities for Bluedot not only in terms of business opportunities, but also capital injection and technical expertise.

In a press release announcing the investment, GK Group CEO Don Wehby said that the private equity investment in Bluedot will lay the foundation for it to become the Caribbean’s leading strategic insights consultancy.

Additionally, Charlton noted that GK stands to benefit from working with Bluedot, as the company already has close ties with several regional and international brands. Some of the brands that Bluedot has provided service for include Campari, Digicel, Total and Gruppo Diageo.

“Data is one of the most valuable resources of our modern digital age. We have all witnessed the way that the COVID-19 pandemic has accelerated digitalisation around the world, resulting in businesses becoming increasingly data driven,” Wehby said.

“Larren and Bluedot are well placed in the market, and they have established a solid track record and reputation for delivering services which meet the needs of the modern business. The Bluedot team already has such excellent credentials, and we are looking forward to even more great things from them, as their business continues to evolve in Jamaica and across the region,” he added.

END

WATCH THE SEGMENT HERE

Sashell Williams2024-09-03T21:40:31-05:00