VMIL Acquires Stake in Home Choice
- VM Investments Limited (VMIL) has agreed to make a private equity investment in Home Choice Enterprise Limited, which will see the wealth-building arm of the VM Group acquiring a sizeable stake in the manufacturing and distribution company.
- The equity injection will allow Home Choice Enterprise to expand its business to meet the growing demand for its products, which include pepper shrimp, sauces, spices, juices, and condiments – in the local and export market.
- VMIL CEO further noted that the investment is a continuation of a strategic push by VMIL to assist micro, small and medium-sized enterprises to unlock their full potential through financial advisory services and capital financing.
- Home Choice, which has been in operation for over 22 years, is a staple in the local, regional and international market, with a customer base not only spanning the entire island of Jamaica inclusive of major supermarkets, wholesales, gas stations, gift shops and schools, but wherever there is a strong Jamaican Diaspora presence.
- Given the favourable outlook of the manufacturing and distribution sector due to local economic recovery for 2022 and beyond, this investment should yield positive results.
(Sources: JIS News & NCBCM Research)