Bond issue ‘a natural progression for our scale,’ says James Caterers Chairman James Barbara

A recently launched €30 million bond issue is “a natural progression” for James B. Holdings, the company behind James Caterers, Healthmark, and several others involved in the food business, says its Chairman James Barbara.

Speaking to MaltaCEOs.mt, Mr Barbara says the bond issue is “a natural progression for a group of our scale and stability, providing an opportunity for the public to invest in one of Malta’s most established food and service companies.”

James Barbara has become a household name in Malta, growing his business from a single confectionery to a diversified group involved in food manufacturing, healthcare, retail and human resources.

The heart of the group’s operations is its Bulebel facility, the Food Factory, described as a “central processing unit that supports every other line of business, from catering to retail and hospitality.”

Almost €14 million of the proceeds from the bond issue are earmarked to finance or refinance its modernisation and expansion – moves Mr Barbara says are “essential” to keep the group competitive in a fast-evolving industry.

“The project will increase our production capacity, introduce new automation technologies, and enhance our ability to develop innovative products across multiple sectors, all while ensuring consistent quality and efficiency,” he says.

Another €10 million of the proceeds from the bond issue will be used to part-finance the group’s recent corporate acquisitions in the in-flight and healthcare catering space.

Earlier this year, James B. Holdings acquired the stakes of db Group in Malta Healthcare Caterers Ltd, Kore Air Services Ltd and Kore Inflight Services Ltd.

Malta Healthcare Caterers Ltd provides catering and management services for hospitals, nursing homes, and long-term care facilities, including the 504-bed state-owned St Vincent de Paul residence.

Meanwhile, Kore Air Services Ltd offers inflight catering to a number of major airlines operating out of Malta International Airport, with administrative and management support services handled by Kore Inflight Services Ltd.

Initially established as joint ventures with db Group, James B. Holdings now has full control to “accelerate growth and enhance efficiency through greater focus, faster decision-making, and stronger alignment with our broader vision for quality and innovation in food services,” says Mr Barbara.

He describes the acquisition, valued at €34.5 million, as “a strategic and amicable decision that allows both companies to focus on their respective core areas of expertise.”

He continues: “For us, these operations fit naturally within our long-term growth strategy. We have the experience, infrastructure, and management depth to continue scaling these businesses independently.”

The Chairman believes the bond issue will set the group up to capitalise on the “substantial room for growth” across all the sectors it operates in.

“We are well positioned to capitalise on that momentum, given our solid foundation and proven track record,” he says.

Beyond Malta, the group is already present in international markets and continues to explore new opportunities overseas.

Mr Barbara points to the group’s establishment of a training centre in Dubai to help source talent for healthcare staffing solutions it offers through Healthmark, noting ongoing discussions with overseas institutions interested in healthcare catering and staffing solutions.

The group is also developing food products like pre-made meals, under the Waistnot brand, that it sells on an international scale.

“The appetite for quality food and catering solutions is growing globally, and we intend to be part of that growth story, both at home and abroad.”