NASSAU, BAHAMAS — AML Foods Limited yesterday entered into an agreement to acquire the business and assets of Exuma Markets Limited, situated in Georgetown, Exuma.
The transaction, which is subject to due diligence, is expected to close on May 29, 2021. The final purchase price will be determined based on the value of the assets at the time of closing and the company will make a further investment of $250,000 to remodel the store.
Gavin Watchorn, president and CEO at AML Foods Limited, said: “We are excited to expand our operations into Exuma and build on the proud legacy of the Minns family. Exuma Markets has been a strong operator on the island for many years, fulfilling an important role, and we wish to thank the entire family, management and staff for the great work they have done in service to the Exuma community. We will work hard to ensure that we continue to support the island and surrounding cays.”
AML is well recognized throughout The Bahamas for operating quality brands. In addition to a newly remodeled store, customers can expect to find a full assortment of grocery and fresh products.
Watchorn said: “The concept will be a Solomon’s neighborhood store, but we will also offer residents the opportunity to shop our Fresh Market and Cost Right brands by leveraging our existing operations and supply chain.
“Our goal is to make our presence felt in a great way, so in addition to quality products and services, we are committing to supporting community initiatives important to the people of Exuma and doing our part in helping the island to continue to grow.”