company history

QWI was incorporated in Jamaica on December 13, 2018 as a private limited liability company by Jamaican Teas Ltd. (JTL) and KIW International Ltd. On April 25, 2019, the Company converted to a public limited liability company.

Jamaican Teas Limited

Jamaican Teas Limited (JTL) was acquired by the father and son team of Adeeb and John Mahfood in 1995. Since then, the product range has been considerably expanded and the Caribbean Dreams brand was launched offering consumers unique herbal combinations and infusions. Today, Jamaican Teas is the largest producer of teas in the Caribbean with almost one-half of its products exported to 13 Caribbean markets and North America. Teas are also produced through private label arrangements for a number of other local and international companies.

The Company became a public company in 2010 and is listed on the Junior Market of the Jamaica Stock Exchange. JTL continues to diversify its product offerings and is currently undergoing expansion through the addition of other product lines and investments in key growth areas.

KIW International Limited

Formerly, Kingston Industrial Works, incorporated in August, 1955 to acquire the business operated by  Henriques Brothers Limited, KIW is one of the foundation members of the Jamaica Stock Exchange (JSE).

The Company was a major manufacturing and commercial enterprise but suffered declining fortunes in the 1980s and onwards. To its advantage, KIW owned large acreages of land and was able to sell parcels on more than one occasion. The proceeds were initially invested in a mix of equities, money market and unit trusts and eventually most of the portfolio was transferred to JSE listed shares, which was pivotal to growing assets significantly. The Company is now set to play a considerable role in QWI Investments, a new subsidiary, formed jointly with Jamaican Teas.

  • 1

    Jamaican Teas

    Manufacturers of Tetley and Caribbean Dreams teas and groceries; this
    includes packing and processing teas for other local companies as well as purchasing grocery products manufactured locally and overseas by other manufacturers.

  • 2

    H Mahfood and Sons

    Owns real estate properties for investment rental and for development and sale to the public. The Company has executed two projects to date and is at an advanced stage to develop another.

  • 3

    Bay City Foods

    A 50% owned associated company, owns Shoppers’ Delite Supermarket since February 2019.

  • 4

    KIW International

    Holds an investment portfolio of companies listed on the Jamaica Stock Exchange.

  • 5

    QWI Investments

    QWI Investments incorporated in 2018 to hold all
    the Group’s listed investments.

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Michael P. Regan
Senior Markets Editor, Bloomberg Businessweek

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