MEL 2022 Limited (“MEL 2022”) has acquired 100% of the issued shares of Mother’s Enterprises Limited (“Mother’s”) Limited, a food services organisation operating within Jamaica with exports to the diaspora.
MEL 2022 is a special-purpose vehicle created by Roots Financial Group Limited (“Roots”) to hold the shares in Mother’s. The transaction was arranged and structured by Roots, with legal services provided by Patterson Mair Hamilton, the seller’s attorney and Carter Lindo, the purchaser’s attorney. The transaction support was provided by PriceWaterhouseCoopers and Sygnus Capital. Roots’ banking partner is CIBC FirstCaribbean International Bank.
The acquisition of Mother’s is a part of Roots’ strategic vision to create a Caribbean network of integrated businesses with a global focus. Mother’s represents the tenth company in the Roots Family. In commenting on the acquisition, incoming Chairman, Mr Clement “Jimmy” Lawrence said, “It is with great pleasure and anticipation that we welcome Mother’s Enterprise Limited into the Roots family. Mother’s innovative approach to meal offerings and unwavering commitment to quality aligns perfectly with our own values.
“The successful business strategy developed by its founders, Mr. Carlysle Hudson and Mr. Richard Foreman will continue to guide us as we move forward and innovate. This acquisition is not just about business growth; it’s about enhancing the experience for our customers and providing the widest variety in high-quality local fast-food options. We’re also looking forward to working with the exceptional staff and management teams that have made Mother’s Jamaica’s respected and loved quick-serve restaurant brand. Together, we will write the next chapter of success in the fast-food industry.”
In commenting on the sale, the outgoing managing director and shareholder Mr Carlysle Hudson said, “After 42 years of successfully building the Mother’s brand the shareholders decided to sell their shares to the Roots Financial Group led by Kevin Donaldson. Mother’s consists of a chain of restaurants, school canteens, Devon House Bakery, DHB Too, Pimentos, catering, bakeries, over 300 wholesale customers inclusive of schools, hotels, hubs and supermarkets. Mother’s continues on a successful financial path with the invaluable contribution from our 800 employees, customers and suppliers. We are confident that the new owners will maintain the same high standards and we wish them every success.”
Managing Director designate Mr Sheldon Seymour added: “We are enthusiastic about the acquisition of this great Jamaican brand, Mother’s and with it an exceptionally great team that has been a part of the company’s success. The founders, Carlysle Hudson and Richard Foreman, 42 years ago developed Mother’s and because of its delicious Jamaican-inspired menu, with premium ingredients, it provides great value to our customers and has tremendous untapped growth potential. We couldn’t be more excited about what the future holds for Mother’s, with our focus on the overall customer experience.” This acquisition signals a significant milestone in Roots’ strategy. All stakeholders can expect commitment to quality, innovation and remaining true to our identity, our roots.