Massy Holdings Limited has booked a TT$105.3 million loss — equivalent to more than J$2.3 billion — on the sale of its Jamaican distribution subsidiary to a Trinidad and Barbados-backed consumer goods joint venture.

The group sold Massy Distribution (Jamaica) Limited to Acado Limited, a joint venture equally owned by Trinidadian conglomerate Agostini Limited and Barbadian conglomerate Goddard Enterprises Limited.

Massy chairman Robert Riley, in the company's financials released on Friday, explained that the loss did not reflect any operational weakness of the subsidiary. Rather, "the loss reflects the accounting impact of cumulative foreign exchange translation losses". The transaction, first announced in February 2025, was completed in March 2026 after a lengthy regulatory review. Riley added that the sale had the effect of "crystallising" currency losses.