PanJam has sold its 33.3 per cent stake in New Castle, which manufactures and distributes jerk sauces, seasonings, and other condiments under the brands Walkerswood, Busha Browne's, and Jamaica Joe.
A statement to the stock exchange today indicates the sale took effect on December 21 last year.
CEO Joanna Banks noted that the company's investment in New Castle was in line with PanJam's strategy to take meaningful equity positions in Jamaican companies with strong brands, foreign exchange earning potential, and a global reach.
Ms Banks says PanJam's investment objectives had been met.
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