Cave Shepherd

he Cave Shepherd of 2000 was a very different enterprise from that launched in 1906 by R. G. Cave and J. P Shepherd. Its evolution had been gradual, yet continual, with the bulk of the change occurring under Geoffrey Cave's leadership. By 2000, the transformation of Cave Shepherd into a holding (or parent) company for a myriad of enterprises was almost complete, with its major interests falling into three main categories - retail, tourism and financial services. The demise of Europe's duty free regime and the steady growth of tourism in the Caribbean did not pass unnoticed. The idea to sink all of the retail operations in Barbados and the wider Caribbean into a new Caribbean entity focusing on the duty free trade was contemplated. A suitable partner was found in Dufry International AG (formerly Weitnauer Holding Ltd) and a 50:50 joint venture was formed in 2000. Thus on October 1, 2000, the new company, Duty Free Caribbean (Holdings) Ltd, was established. Its objective was to unite the strengths of both partners, thereby creating a strong regional company. Long time, competitor, Harrisons, was acquired a year later. In 2005, the company joined forces with United Insurance Company Limited and Grace Kennedy & Company Ltd of Jamaica. Together, the three firms purchased General Finance Corporation, renamed Signia Financial Group Inc. Signia's business plans showed the potential for "considerable development in future years".