Jamaican Teas Limited has advised that it has entered into an agreement to purchase the premises and equipment located at 9 Chancery Street, Kingston 19 that houses the supermarket that was previously leased. The purchase price is $58 Million and is partially financed by a vendor mortgage of $42 Million. The company announced that the ownership of the premises is considered important for the benefit of the supermarket business which has been profitable from the commencement of this fiscal year. The purchase will not have a material financial impact on the results of the group in the short term.
