Willemstad, November 1, 2019 – Kooyman, market leader in our local Dutch Caribbean markets for over 80 years,
is making history as the company spreads its wings into the English speaking Caribbean with its very first Megastore in Barbados, where CIBC FirstCaribbean’s head office is based.
CIBC FirstCaribbean has provided for a USD 20 million loan and working credit line to Kooyman for the construction of the Kooyman Megastore at Kendal Hill in the parish of Christ Church in Barbados. The construction of the Megastore started last February and the store is due to open in the first quarter of 2020. With the addition of this new location, Kooyman has 7 store locations spread throughout the Caribbean.
“We are proud that CIBC FirstCaribbean could assist Kooyman with its expansion in the Caribbean region. Kooyman is one of the most reputable companies in the Dutch Caribbean and I applaud the entrepreneurship of Kooyman’s leadership team showcased by this expansion.” said Pim van der Burg, Managing Director Corporate & Investment Banking.
Herbert van der Woude, CEO of Kooyman, said “It was a pleasure working with the team of CIBC FirstCaribbean; they provided excellent support to Kooyman and provided financing for this very important expansion in a market that was new to us.”
After completion of the Megastore, CIBC FirstCaribbean will continue servicing Kooyman Barbados with its different banking products.