MIAMI, FL / ACCESSWIRE / May 25, 2021 / OM Holdings International, Inc. (OTC PINK:OMHI), an operator and manager of OneMart super merchandising stores in the Caribbean, today announced it has broken ground on its second location: the construction of its 34,000 square foot supermarket in Fat Hogs Bay (East End) British Virgin Islands (BVI) and will be completed by the end of 2021. The store will be located on 5 acres, which will give the company ample room for expansion; the property has a 50-year lease and offers ample parking. The store will be similar to the company's first store, but larger so it can offer even more goods, including food, clothing, appliances, furniture, electronics and general household items - everything shoppers need for one stop shopping. OM Holdings International, Inc. was founded in 1986 in BVI by Mark Vanderpool.
There will be groceries and cash and carry, appliances, household items and electronics, furniture and accessories available. The news of the Fat Hogs Bay store follows OM Holdings' November 27, 2020 announcement of its plans to expand to Fat Hogs Bay, the U.S. Virgin Islands and to other countries.
The company's first store, OneMart, reported revenue for the year ended December 31, 2020 of $28 million dollars and $3.8 million in operating profits. Since it was completed in 1986 the store has seen year over year growth, even during 2020 during the global Covid-19 pandemic. The first OneMart, located in Road Town in Port Purcell, Tortola, is one of the leading food service providers for residents and tourists, as well as for hotels, restaurants, charter boats and yacht provisioning. Management has developed a plan based on the success of OneMart to open a number of stores throughout the Caribbean.
"OM Holdings, Inc. combines the strength of a leading Caribbean retail store with a highly experienced management team, and we expect to significantly expand and grow the company over the next few years," said Mark Vanterpool, Chairman of OM Holdings. "With construction underway our management team is aggressively looking for several additional sites in the Caribbean to build comparable stores. Prior to the virus, BVI alone had 400,000 visitors who stayed an average of seven days; coupled with a population of 50,000 permanent residents, this makes BVI very attractive for growth."
About OM Holdings International, Inc.
OM Holdings International, Inc. (OTC PINK:OMHI) operates delivery services and grocery stores in the Caribbean. The company's storefront, OneMart, is the second-largest grocery store in the BVI. The company also provides lumber and other construction supplies to contractors throughout the Caribbean. For more information please visit https://omholdingsinc.com/.
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Michael J. Porter, President
Porter, LeVay & Rose, Inc.
T: (973) 865-9357
E: [email protected]
SOURCE: OM HOLDINGS INTERNATIONAL, INC.