Cfg supports strategic alliance in hospitality sector in Aruba
Combining strengths to benefit from various advantages
One of Aruba’s leading hospitality groups, Aruba Wine & Dine, has entered into a strategic alliance with Sygnus, a Jamaican-based regional investment group, through its private equity fund, Sygnus Deneb Investments. Aruba Wine & Dine was assisted in the establishment of this international alliance by The Curaçao Financial Group N.V. (CFG), which specializes in mergers and acquisitions, corporate financing and business valuations.
Sygnus has taken a significant shareholding interest in Aruba Wine & Dine to widen the company’s footprint and deepen its presence in the Dutch Caribbean. “Sygnus recognizes Aruba as a stable economy with a strong hospitality industry and Aruba Wine & Dine, being a significant player in the industry with 9 restaurants, 1 piano bar and a catering business, represents an attractive investment opportunity”, according Dr. Ike Johnson, Executive Vice President and Co-founder of Sygnus.
Sygnus is part of the group of investors who acquired the Van den Tweel group of supermarkets two years ago on Aruba (Ling & Sons), Bonaire and Curaçao. “The combination of the Aruba Wine & Dine’s strong presence in the hospitality industry coupled with Sygnus’s financial strength, expertise and unique regional relationships will result in a strong partnership and the realization of various synergies, such as decreased purchasing costs, more robust logistics and new growth opportunities. As a result, Aruba Wine & Dine will further enhance the quality of its products and excellence in service to the local community and the tourism industry. Furthermore, this alliance will foster increased innovation, which will augment customer experience and competitiveness in the hospitality industry”, according to Kevin Slangen, Managing Director of Aruba Wine and Dine.
Sygnus is one of the Caribbean’s leading alternative investment companies with customized financial solutions that include Private Credit, Private Equity and Real Estate Investments. Sygnus also provides wealth management, investment banking and tax advisory services to clients across the region.
Link to Aruba Wine & Dine website