The Board of Directors of Jamaican Teas Limited (JAMT) has announced that the Company acquired a 50% interest in Bay City Foods Limited, a newly formed company. JAMT further advised that Bay City was expected to conclude an agreement on November 15, 2010, for the purchase of a supermarket in Montego Bay. The supermarket previously operated under the Super Plus banner and is located on Barnett Street. The arrangement provides for the purchase of the tangible and intangible assets of the supermarket and the lease of the premises. The facility is over 30,000 square feet and is located in a prime commercial area in the town. The Supermarket will be known as Bay City Supermarket and is expected to be open to the public later this week. This represents the second supermarket that Jamaican Teas has invested in this year. We are encouraged by the performance of the first supermarket which is now profitable. We expect that this new acquisition will contribute to growth in profits in the future.
