ANSA McAL Limited on Monday announced that it has entered into an agreement with the Term Finance (Trinidad & Tobago) Limited to sell off two of its subsidiaries in Trinidad and in Barbados.
It said that after eight decades in business, Standard Distributors Limited and Standard Distribution and Sales Barbados Limited, are being sold off with the conglomerate saying the transaction reflects its commitment to strategic portfolio optimisation while supporting Term Finance’s growth agenda across the region.
Term Finance is owned by Trinidad and Tobago based PointWest Capital and First Citizens Bank (FCB). It is a web-based lender that offers responsible credit solutions to employees and small-to-medium-sized businesses (SMEs) in Trinidad and Tobago and across the Caribbean. Founded in 2015, it provides online services for loans and product financing and is part of a larger regional operation.
“This sale closes an extraordinary chapter in the Standard story, but its impact — built on quality, dedication, and connection — will endure,” said Anthony N Sabga III, Group chief executive officer of ANSA McAL Limited.
“As ANSA McAL continues to streamline its portfolio, in line with our 2X strategic agenda, the Group remains proud of Standard’s contribution to regional life and grateful to all who supported the brand throughout its journey,” he added.
The transaction is expected to close on or about December 31, 2025, subject to customary closing conditions. The Trinidad Guardian newspaper, which is part of the ANSA McAL Limited group did not indicate the price paid for acquiring the subsidiaries.
Standard’s retail operations officially closed on Saturday, November 1, 2025, but the company’s service obligations and hire-purchase agreements will continue under the new ownership.
ANSA McAL said Term Finance will evolve Standard’s operations into a dedicated credit provider and e-commerce platform, leveraging Standard’s 80-year experience and hire-purchase expertise to offer new credit products through branches across Trinidad and Tobago.
Customers with existing service claims and product warranties will be able to access support through Standard’s official website and social-media channels.
ANSA McAL said the employees, ”where possible, team members have been offered continued employment with Standard, or reassigned within the ANSA McAL Group of Companies”, while others have received enhanced separation packages, which the Group said underscored its commitment to fairness and respect during the transition. (CMC)
