JMMB Jamaica, one of the Caribbean’s largest investment banks has bought a minority stake in Guyanese-owned Corum Restaurant Group Inc.
Corum Restaurant Group owns and operates restaurant franchises in Guyana such as Pizza Hut, a subsidiary of Yum Brands. Corum Restaurant currently operates eleven Pizza Hut locations across Guyana with plans for more store openings throughout Guyana and the Caribbean.
A release yesterday from Corum and JMMB, said that the transaction will also help develop the group’s newest subsidiary Caribbean Fusion Holdings Inc which owns and will soon operate the P.F Chang’s franchise in Guyana, Suriname, Jamaica, Barbados, and the Cayman Islands.
According to Founder and Chief Execu-tive Officer of Corum Group, Clairmont B. Cummings “We are excited about our new partnership and strongly believe that this move will bolster us as we continue to build on Corum’s success. The JMMB partnership is also part of the strategic positioning, consolidation, and expansion of Corum Group into the regional market, where we intend to become a dominant player in the QSR and fast-casual restaurant space.”
Cummings confirmed that he will remain the majority shareholder and continue to serve as Chairman and CEO. The Cornell Business School graduate believes that the partnership will enable Corum to swiftly adapt to the changing market dynamics, competition, and growth opportunities that come with Guyana’s rapidly expanding oil and gas sector.
