Kintyre doubles profit, majority shareholders plan US holding company

Kintyre Holdings Jamaica Limited more than doubled its net profit in 2025 while a group of its shareholders, led by Tyrone Wilson, separately disclosed plans to restructure their holdings into a United States-based parent company that could pursue a New York Stock Exchange listing.

Kintyre posted revenue of $271.1 million for its full year ended December 2025, or 25 per cent from $216.8 million in 2024, while profit attributable to shareholders surged 173.2 per cent to $148.8 million from $54.5 million a year earlier.

“Over the past two years we have delivered a meaningful turnaround in the business, improving profitability, strengthening governance, and expanding our portfolio of ventures,” said Wilson in a statement to shareholders on Wednesday.

The US plans

On the heels of those results, a group of Kintyre’s principal shareholders – holding more than 51 per cent of the company’s voting rights – has disclosed plans to restructure their shareholdings and fold them into a newly incorporated United States-based entity, to be named Kintyre Holdings International Inc. That new company, rather than the JSE-listed vehicle, would serve as the international parent and is the entity that may seek a listing on the New York Stock Exchange (NYSE).

Kintyre was explicit that the move “does not represent a change in the ultimate beneficial ownership or control” of the JSE-listed company. Wilson, who holds 597 million shares – equivalent to 62.87 per cent of the company – through direct holdings and connected interests, effectively controls the bloc behind the restructuring.

The vehicle for a potential US listing would be via the JOBS Act – the Jumpstart Our Business Startups legislation enacted in the United States in 2012 to ease smaller companies into public markets. Companies with under US$1 billion in annual revenue can qualify as “emerging growth companies”, unlocking the ability to file registration statements confidentially with the Securities and Exchange Commission, present two years rather than three of audited financials, and phase into full US reporting requirements over several years after listing.

“The shareholder group believes that accessing deeper international capital markets could support the scale of growth we envision, while positioning a Jamaican-founded platform to pursue opportunities on one of the world’s leading stock exchanges,” Wilson said.

Building the platform

The restructuring follows a period of rapid portfolio-building. Over the past year, Kintyre acquired Kulcha Rum outright in January 2026; secured full regulatory approvals for The Chalet at Bengal Beach while exploring a sale or funding partner; announced a strategic joint venture with Miracle Corporation in December 2025; and acquired properties while flagging a Kintyre REIT concept and a prospective dividend regime. Earlier, it expanded Visual Vibe into the United States and secured a US$500,000 investment from Portland Holdings into that subsidiary. Total assets of Kintyre equate to J$970 million at September 2025.

Kintyre said it remains “committed to maintaining its operational foundation in Jamaica”, while developing sister entities across the Caribbean and Latin America. The proposed restructuring is subject to the completion of customary legal and administrative processes, and the company said it would provide further updates should any material developments arise.

When contacted about the NYSE plans, Wilson said he would not offer further comment on the development at this time.

neville.graham@gleanerjm.com