Courts approached to purchase Standard Distributors

The Unicomer Group, a leading retail conglomerate, has unveiled its largest Courts Megastore in Trinidad and Tobago, marking a significant milestone in its regional operations. The new store, located on Don Miguel Road in Barataria, spans 4,600 square feet, offering 30% more retail space than its predecessor. The facility also includes a Starbucks outlet, enhancing its appeal as a one-stop shopping destination. The project, which cost nearly $180 million and took 28 months to complete, has created over 60 direct and indirect jobs, adding to the more than 1,000 jobs Courts has generated in the past two decades. During the grand opening on November 19, Unicomer executives expressed their commitment to the Trinidadian market despite ongoing challenges such as the foreign exchange (forex) shortage. Guillermo Siman, executive vice president of Unicomer Group, revealed that the company had declined an offer from Ansa McAl to acquire Standard Distributors, a major competitor, due to overlapping store locations. Standard Distributors, a long-standing Trinidadian business, was recently sold to fintech company Term Finance, ending its 80-year legacy. Both Guillermo and Felix Siman, vice president and managing director of Unicomer’s Caribbean operations, emphasized the importance of competition and market growth. Felix highlighted Unicomer’s strategies to navigate the forex crisis, leveraging its multinational capacity to import products while also expanding partnerships with local vendors. He expressed optimism that the government would address forex constraints to support local businesses. The company’s continued investment in Trinidad and Tobago, including plans to replace the old Megastore with a new retail plaza, underscores its confidence in the market’s future. Felix reiterated Unicomer’s commitment to providing world-class products and services, ensuring that Courts remains a trusted brand in the region.