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GROWTH GROWTH GROWTH The Derrimon story began in 1998, when Derrick Cotterell, founder and CEO of the Derrimon Trading Company imported several containers of granulated sugar to supply to local manufacturers of syrup. After the venture proved successful and more importantly profitable he quickly planned to expand his reach and now in 2014 his company is one of the leading distributors of products in Jamaica. WRITTEN BY JACK SLATER


DERRIMON TRADING COMPANY

Looking at their current success and status it would come as a surprise to know that the venture was not an instant success with Derrick’s focus being pulled to focus on another venture, Cotterell’s Texaco gas station which was owned and operated by the Cotterell family. In fact it was not until four years later in 2002 that Derrimon became firmly established into itself.

“W

e received word that Nestle was seeking contract

GraceKennedy, Lascelles de Mercado and Pepsi Jamaica he was

distributors,” he reveals, “As they were changing

swiftly appointed as Derrimon’s General Manager.

their market strategy and wanted to give greater

And with both Derrick and Winston focused on the business it

focus on select accounts while having its remaining handled by

was time to move to the next level and this involved a move into the

regional sub-distributors. As the world’s leading nutirion, health and

rice field, “It was clear that Nestle products by themselves, could not

wellness company it was a strategic decision to partner with them,”

create the success of which we needed,” he relates, “And increasingly,

Derrick sought out the opportunity, and after consultations with

the itch to diversify, innovate and expand became unbearable.”

Nestle, the recently formalized and relatively unknown company of

It was fortunate then that Nestle did not object to Derrimon

Derrimon Trading was chosen to be one of Nestlé’s four regional sub

diversifying its clientele and soon they began exploring the potential

distributors in Jamaica receiving responsibility for the Kingston, St.

of importing rice and October 2006 saw the first importation of the

Andrew, St. Catherine and St. Thomas markets.

first container of rice which proved to be an unparalleled success, “The demand for the product escalated and soon we became synonymous

Strengthening The Team What the Nestle contract did was bring about the formal start of Derrimon and ensure the steady expansion of the business from year to year. However, Derrick saw the need to enhance his company’s efficiency in distributions and ensure a better market penetration.

with rice,” he explains, “There we established our reputation for unmatched dependability, availability and excellent distribution.”

Continuous Innovation And A Drive For Growth

This was when Winston Thomas, a veteran in the business of

Even having established themselves firmly in the rice and Nestle

distribution with over 27 years of solid experience was brought

markets, the need to innovate and expand was now something felt

in to strengthen the team. After years working for the likes of

by the entire Derrimon team and this lead to several developments

“The demand for the product escalated and soon we became synonymous with rice. There we established our reputation for unmatched dependability, availability and excellent distribution.” Derrick Cotterell, Founder and CEO of the Derrimon Trading Company


DERRIMON TRADING COMPANY

over the next years. In 2009

logistics support, warehouse storage rental and cold storage facilities.

a flash however, and more space

they established their own cold

With more than thirty years of operations, Sampars is one of the

was required.”

storage division offering items

largest and oldest wholesale businesses in Kingston

Dealing with outgrowing the

such as offals, seafood and

Thanks to them, Derrimon distributes island-wide with a fleet

available space is not the worst

mutton and shortly after a leap

of over forty delivery trucks and this coverage ensures effective

problem a business can face, and

of faith that took them beyond

engagement between Derrimon and supermarkets, wholesalers,

in November 2007 the company

the realms of mere distribution

grocery stores, pharmacies, convenient stores and food service

found warehouse space at 8-10

and into the world of wholesaling

channels all across Jamaica.

Ashenheim Road where, despite

by acquiring Sampars Cash and Carry.

Growth, Growth, Growth

having only rented a 2,500 sq ft space, the owner of the complex

“In the latter part of 2008,

Through its years the one consistent theme spanning the

allowed the company access

Sam Richards who was the

existence of Derrimon Trading Company, from its inception to today

to an adjoining 45,000 sq ft

owner of Sampars Cash and

is its growth.

warehouse.

Carry contacted Derrimon and

At the start in 2002, when Derrimon first started distributing for

Finally in 2009, Derrimon

said that he wanted to sell his

Nestle, it had less than 1,000 sq ft of storage space at his disposal and

was

alerted

business,” Derrick reveals, “Not

for years the lack of adequate storage space would be a major and

warehousing

simply to the highest bidder but

recurring obstacle for the company. The solution came in the form of

available at 235 Marcus Garvey

to us particularly after hearing

stringent business planning and faith.

Drive

with

that

prime

facilities

were

approximately

“My mother Monica Bell, was running her own business in

100,000 sq. ft. of warehousing

Through Sampars Cash &

Kingston at the time and allowed us to store goods in her warehouse

facilities, spread across 3.5 acres

Carry, the company also operates

when needed,” he relates, “Derrimon’s imports outgrew the space in

of land which was large enough

about our success and growth.”


for Derrimon to have its warehouse and offices together as the

Million and revenue grew by 10% from $4.7 billion to $5.2 billion for

company had always wanted.

2013. Furthermore the company plans to capitalize on this growth by

The Board

investing heavily in its plans for expansion which include plans to

In 2009 Derrimon Trading established its board of directors.

increase the number of Sampars Cash and Carry wholesale store

Derrick Cotterell, Derrimon’s Founder & Chief Executive Officer, was

outlets to as much as seven in five years, to Increase the footprint of

appointed chairman. The other appointees to board were Monique

its wholesale store subsidiary as part of a five-year plan and to ramp

Cotterell, Ian Kelly, Winston Thomas and Attorney-at-Law Alexander

up its e-commerce portal and allow members of the diaspora to order

Williams, as an external director. President of the Airport Authority

online and have goods delivered to their homes and businesses in

of Jamaica and Chief Executive Officer of the Norman Manley International Airport (NMIA) Limited, Earl Anthony Richards, was subsequently appointed as an external director. And together this team would be responsible for the future of the company.

2014 And Onwards The trend of growing through all economic climates seemed set to continue as of March 2014, Derrimon Trading Company Ltd. reported to have trebled their earnings and added Blue Power and Delect to their business portfolio. This included an increase of net profits increased to $49.9

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DERRIMON TRADING COMPANY 001 876 901 3344 WWW.DERRIMON.COM

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Derrimon Trading Company  

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