The company announced that its first store would be on located on the shores of the world-famous Doctor's Cave Beach, offering views of the Caribbean Sea.
(meta data) TITLE: Express Catering celebrates IPO success ## # Business ## Express Catering celebrates IPO success BY BALFORD HENRYSenior staff reporterbalfordh@jamaicaobserver.com Friday, July 28, 2017 Tourism is booming, and so chief executive officer of Montego Bay-based Express Catering, Ian Dear, is not too surprised that the boom was so evident in the company's initial public offering (IPO) on the Jamaica Stock Exchange on July 12. The offer, which sought to raise $490 million from the purchase of 327.5 million ordinary shares, opened at 9:00 am and was oversubscribed after a minute. Dear told Wednesday night's gathering at the Monthly Investors Forum, hosted by the company's financial advisers Mayberry Investments Limited (MIL) at the Knutsford Court Hotel, New Kingston, that he was not only happy with the overwhelming support, but also the fact that the Jamaica Stock Exchange gave the second city its first taste of the activity courtesy of his company. "The future is extremely bright," he told the guests in Kingston, many of whom were getting a first-hand report of the investment climate for companies like Express Catering from Montego Bay and who shared in the celebration of the successful event. He said that while Express Catering currently operates within the "captive space" of the Sangster International Airport (SIA), based on all the available information, it will continue to grow. Tourism is the company's focus; customers are primarily US visitors spending US dollars, allowing Express Catering to be able to pay dividends to its shareholders. This has boosted its confidence immensely in a situation in which Jamaica generated US$1.46 billion in tourism earnings during the first six months of the 2017 calendar year. But Dear says that despite Express Catering's safe investment environment, it is constantly evaluating the needs of its customers to identify their changing needs and to meet them. "We have a tremendous opportunity in the airport facilities at Sangster International, which is growing by leaps and bounds, because the tourism industry is literally on fire. It's growing by leaps and bounds," Dear told guests. He said that with a tremendous amount of new hotel rooms coming on-board and with cruise visits growing, despite hiccups in Falmouth, there is confidence in tremendous growth in Express Catering's offering at SIA. He also noted that Express Catering will be opening three Starbucks shops at SIA this year at a cost of some US$1.4 million. This follows the announcement in May this year that world-famous Starbucks Coffee Company had entered a geographic licensing agreement with Caribbean Coffee Traders Ltd, a consortium led by Margaritaville Caribbean Group, a leading restaurant management and franchise operator in the Caribbean. The agreement grants Caribbean Coffee Traders the exclusive rights to own and operate Starbucks stores in the country. Jamaica will be Starbucks 17th market in the Latin America and Caribbean region, with the first store slated to open in Montego Bay. Starbucks stores in Jamaica will be operated by Caribbean Coffee Traders, a joint venture between Ian Dear, chief executive officer of Margaritaville Caribbean Group and Adam Stewart, who is deputy chairman and chief executive officer of Sandals Resorts International. Margaritaville Caribbean Group currently operates restaurant, entertainment and tour concepts throughout the Caribbean, and provides complete, multi-branded food and beverage experiences for major Caribbean tourism hubs. Margaritaville Caribbean Group's brand portfolio includes a diverse collection of proprietary brands, international franchises, casual dining concepts, themed bars, and popular quick-service restaurants. The group employs over 1,000 people throughout the region. Under the offer being brokered by Mayberry Investments Ltd, Express Catering floated 327.5 million units — representing 20 per cent of its 1.63 billion shares. A tenth of the shares, 32.6 million units, were available for general public subscription at $1.50. The rest were reserved for key groups. Express Catering was incorporated in June 2001. Ian Dear is a key shareholder and its chief executive officer. The company runs a series of eateries at Sangster Airport, including Jimmy Buffett's Margaritaville, Starbucks, Quiznos, Dairy Queen, Nathan's Famous Hot Dogs, Domino's Pizza, Auntie Anne's Pretzels, Wendy's, Cinnabon, Moe's South Western Grill, Island Deli, Viva Fresh Market Grab & Go, Cricket Sports Bar, Connections Bar, Air Margaritaville Arrivals Bar, Jamaican Bobsled Cafe, The Groovy Grouper, and The Bar. Now you can read the Jamaica Observer ePaper anytime, anywhere. 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dev02692
Starbucks
Locations.:Expansion.
On the next day, 1 more coffee shop was opened. 
 The first Starbucks store in Slovakia opened in Aupark Shopping Center in Bratislava on May 31, 2016, with two more stores confirmed to open in Bratislava by the end of 2016. 
 In February 2016, Howard Schultz announced the opening of stores in Italy. The first Italian Starbucks store was inaugurated in Milan on September 6, 2018. 
 After Taste Holdings acquired outlet licensing for South African stores, Starbucks opened its first store in South Africa in Rosebank, Johannesburg on Thursday, April 21, 2016, and its second in the country at the end of April in Mall of Africa. 
 In May 2017, Starbucks announced it was commencing operations in Jamaica, where the first store is to open in the resort city of Montego Bay.