Is Usain Bolt’s Tracks and Records getting ready to expand into the United States?  

So first let me give you the backstory.

Usain Bolt’s Tracks and Records is a popular restaurant and sports bar with locations in Kingston and Montego Bay.

It’s partially owned by Kingston Live Entertainment, KLE Group, the same group that used to own and operate Fiction Night Club back in the day.

The company also has several real estate properties and has been listed on the Junior Market of the Jamaica Stock Exchange since 2012.

They used to own 100% of Tracks and Records, but what happened was, Tracks and Records was losing money and dragging down the company’s number.  So they offloaded it to an associated company called FranJam. KLE in turn owns 49% of FranJam.

So the deal freed up KLE’s balance sheet, allowing them to shift focus to the real estate business, but still keep Tracks and Records in its portfolio.

Fast forward to January 2024.  Investment company Blue Mahoe Capital acquired an almost two percent stake in KLE to become its tenth largest shareholder. 

Blue Mahoe is a US-based investment firm founded by Jamaican, David Mullings. According to the company’s website, one of its main focuses is giving investors access to emerging economies and Caribbean markets.

Mullings, who is also Blue Mahoe’s CEO, said that his company’s stake in KLE opens up several opportunities, chief among them the ability to expand Tracks and Records into the United States.

A  franchise is when the owner of a business gives permission or allows other people or companies to sell its products, use its branding etc, in exchange for a franchise fee. Think KFC and Burger King, which are American companies with local franchises that are owned by Jamaican companies.

Mullings said he’s already started putting feelers out to potential franchisees in Miami, Atlanta and Brooklyn and there’s been a lot of genuine interest. 

This wouldn’t be the first time KLE has tried to franchise Tracks and Records though. The company actually tried and then abandoned that model a couple of years ago. But with Blue Mahoe’s contacts, network and expertise this could be a viable option for Tracks and Record.

Another huge perk of the deal is that Blue Mahoe’s property fund investors will get exposure to KLE’s new property development in St Mary, Bessa. 

YUP! KLE is developing an eight-acre lifestyle-themed villa community in Oracabessa, St Mary. KLE said the community will have a combination of villas, condos and swim-up living spaces. Mhmm, it’s giving… Sandals. And they’re getting in at just about the right time!

Because the Ian Flemming Airport is in Oracabessa and the government announced last year that they plan to increase flights to that airport. 

And don’t sleep on Oracabessa. The town does pull in a fair amount of tourists every year. The Goldeneye Hotel is a big draw.  It’s where Ian Flemming wrote the James Bond books. It’s also where I met my now-husband almost fourteen years ago… aww.

Plus it’s also pretty close to the popular tourist destination, Ocho Rios in St Ann.

So this development is a big deal for KLE and now it’ll be a big one for Blue Mahoe.

And that’s the bottom line.