Bacardi selling its Bahamas real estate

BACARDI, the giant rum distiller, will sell its production facility and Nassau Bahamas real estate to a company headed by a former government minister.
The Source River Limited headed by Tennyson Wells, a former attorney general in the FNM government, expects to close the deal by the end on September. Wells is a well-known Bahamas real estate developer and has just launched his newest venture, Lyford Hills near the Lyford Cay enclave.
Source River issued a news release saying the company is comprised of nearly 40 Bahamian investors "including several former Bacardi employees." It plans to turn the facility into a bottled water production facility.
Bacardi confirmed it signed a contract to sell the production facility and real estate in west Nassau to The Source River Limited.
It says this is the best business decision to make for the long-term growth and competitiveness of the company.

Bacardi provided jobs for 114 employees, pumped more than $13 million in annual tax revenue for the country and was a good corporate citizen.
The company will be missed, but we're happy that members of the Bacardi family will continue to live in the Bahamas.
The new bottled plant is expected to create significant employment.
As for the real estate purchased on the western end of Nassau, we await an announcement.