Mayberry Jamaica has sold its stake in Caribbean Producers Jamaica Limited, CPJ. Mayberry announced the decision in a statement on Tuesday.

The equities company says the sale of the 20 per cent ownership stake was to a strategic partner.

Executive chairman of Mayberry, Christopher Berry, says they invested in CPJ over eight years ago out of a belief in the company, the economic development of Jamaica, and the importance of the tourism sector to the Jamaican economy.

He said those gains from that investment were realised and have provided handsome returns for the shareholders of MJE.

Berry says the sale reflects MJE’s strategic and ongoing commitment to optimising its investment portfolio and delivering value to its shareholders.

Caribbean Producers Jamaica Limited was founded in April 1994 by Mark Hart and Thomas Tyler as an institutional food service distributor selling consumable products to the hospitality industry.