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ANSA McAL says its decision to sell Standard Distributors Ltd and its subsidiaries to Term Finance (Trinidad and Tobago) Ltd was partly driven by a slowdown in sales over the past year. In response to questions from Express Business, the conglomerate said the divestment followed “a careful review of Standard’s operations and long-term role within the group”. “Additionally, there has been a slowdown in the demand for appliances and small electronics in the last 12 months. Demand for home appliances and small electronics has moderated compared to previous years. This reflects broader shifts in household spending patterns regionally and globally, as consumers manage budgets more carefully and delay non-urgent replacements,” it said. ANSA McAL added that higher living costs and inflation have prompted consumers to prioritise essential expenses and extend the lifespan of existing appliances. “More shoppers are comparing prices online or turning to digital financing options instead of traditional retail models. These trends mirror what we’ve seen across the wider retail sector, where purchasing behaviour has become more cautious and value-driven,” the group noted. The company stressed that the sale was “guided by broader ANSA McAL Group strategic priorities, not short-term performance,” reflecting its focus on “future growth, value creation, and disciplined portfolio management.” ANSA McAL said employees were informed as soon as the transaction could be legally communicated and would receive enhanced separation packages, continued access to the Employee Assistance Programme (EAP) until December 31, 2025, as well as virtual financial counselling sessions and job fairs in Trinidad and Barbados this month. “Leaders and HR teams have prioritised empathy, communication, and direct support for all affected employees. The group’s immediate focus is to equip employees with strong financial, emotional, and career-planning support,” it added. Reflecting on Standard’s legacy, ANSA McAL stated: “The Group has worked to ensure that the brand’s legacy continues through Standard Credit. Employees and customers have been recognised for their role in shaping the brand’s history.” The company said it intended to honour Standard’s legacy through continued communication with customers and staff, internal recognition, and features within its heritage storytelling initiatives. “Ansa McAL remains deeply committed to supporting people, communities, and partners through meaningful investment, employment, and social impact initiatives. Standard’s 80-year impact on Caribbean homes will remain a celebrated part of the Group’s heritage,” the release said. Customers will benefit Term Finance chief executive officer Oliver Sabga told Express Business via WhatsApp that acquiring Standard Distributors forms part of Term Finance’s strategy “to take our credit offering to the high street”. “For the past ten years, we’ve been providing loans in T&T to employees of companies enrolled in our payroll deduction network. This acquisition allows us to expand our reach beyond those enrolled employers, enabling us to lend directly to any citizen of T&T who meets our general credit assessment. Standard’s trusted brand, strong customer relationships, and nationwide presence make it an ideal platform to help us deliver on that vision,” Sabga said. Asked how the transformation would affect customer experience, he explained that Standard Credit—formerly Standard Distributors Ltd—will immediately benefit from Term Finance’s digital infrastructure, advanced credit assessment systems, and operational efficiencies. “Over time, these improvements will not only make accessing credit faster and simpler, but will likely lead to lower interest rates and loan fees, directly enhancing the overall customer experience,” he said. Sabga added that Term Finance is pivoting Standard’s traditional hire-purchase portfolio to a “modern cash-lending model, building on Standard’s legacy of trust while introducing more flexible, technology-driven credit solutions that meet today’s consumer needs”. “Standard Distributors has been a household name in T&T for 80 years, with a proud history of providing hire purchase financing. Through this acquisition, we’ve inherited not only the brand and customer relationships but also valuable data and underwriting expertise,” he said. He assured that customers could expect a seamless transition. “The Standard brand will remain a prominent and respected name in T&T households, now powered by Term Finance’s digital capabilities. Together, we’ll offer faster approvals, smarter credit products, and more accessible financing, all while maintaining the same sense of reliability and community connection that Standard customers have known for generations,” Sabga added. In a release on Monday, Ansa McAL stated that under the agreement, Term Finance would evolve the business into a dedicated credit provider and e-commerce platform, “leveraging Standard’s 80-year experience and hire purchase knowledge to offer best-in-class credit products to the market”. Although Standard’s retail operations officially closed on November 1, existing service obligations and hire-purchase agreements will continue under the new ownership. Customers can continue making payments through existing channels, including Standard branches, the Chaguanas Service Centre, ANSA House in Port of Spain, NLCB bill payment booths, online banking transfers, and credit card payments via www.standardtt.com. “Standard has been part of our Group’s story for eight decades, shaping lives and homes across T&T and Barbados,” said managing director Nicholas Sabga. He added, “We extend heartfelt thanks to all our employees, customers, and partners who have stood with us, and look forward to seeing the brand’s next evolution under new ownership.” Term Finance COO Nicholas Farah described the acquisition as “an opportunity to preserve the trust that generations of customers have placed in the brand” while evolving Standard into Standard Credit. “Our goal is to introduce new financial solutions that give customers freedom to spend wherever they get the best deals. Evolving the Standard brand to Standard Credit is our way of telling the market that Term Finance is coming to the high street,” Farah said. “This sale closes an extraordinary chapter in the Standard story, but its impact—built on quality, dedication, and connection—will endure,” said ANSA McAL Group CEO Anthony N. Sabga III. He added, “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.” The transaction is expected to close on or about December 31, 2025, subject to customary conditions.
