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Aug 3, 2007

Santino’s will be sold to Benny’s group

Story PictureIn business news, one of Belize’s most aggressive retail operations is about to change hands. Santino’s, founded twenty-two years ago by popular businessman Santino Castillo, will become the property of the Benny’s group of companies following stocktaking on September first. Price of the transaction has not been disclosed, but it has been confirmed that a letter of intent has been signed and a deposit paid. For Santino, the sale will allow him to focus on his job as CEO of the family owned SanCas group, which specialises in wholesale food products. For Benny’s, owned by the Feinstein family, it means instant access to coveted product lines like G.E., Hotpoint, Honda, and Castrol. Benny’s, originally a plumbing supply house, has broken ground on what promises to be the nation’s largest home products emporium, located on the Northern Highway in Belize City. It enters the highly competitive appliance and electronics market against such established rivals as Courts, Brodie’s, Leslie’s Imports, and Mirab. According to Santino, no employee will lose his or her job in the changeover. It should be noted that the Santino’s building, on the corner of New Road and Hyde’s Lane, is not included in the sale.

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