Spur Tree Spices is preparing to roll out a fresh line of products later this year that management is already calling “game-changing”, building on the momentum of last year’s relaunch that saw 38 new items added to its portfolio.

The company, which for years was best known for jerk seasoning and other condiments, has been deliberately reshaping its image into that of a broader Jamaican food solutions provider. In 2024, it pushed into dry mixes such as fried chicken and festival batter, barbecue sauces, syrups, and all-in-one seasonings, while also unveiling a modernised brand identity.

CEO Albert Bailey told shareholders on Monday that while the upcoming products remain under wraps, their design reflects a clear priority on convenience and authenticity.

“We expect for this year there are going to be some significantly game-changing products that are going to be coming to market,” he said, noting that competitors closely watch Spur Tree’s moves, hence the decision to keep tight-lipped until the actual launch.

That repositioning is already paying off. The company closed 2024 with revenues of $1.56 billion, up 7.5 per cent despite lingering supply chain pressures and hurricane damage to raw material crops. Spur Tree’s investment in backward integration helped blunt those shocks. The company harvested peppers from 44 acres at its new farm last year, a move Bailey described as critical to building long-term resilience.

Spur Tree is also strengthening its infrastructure with the build-out of a 15,000-square-foot cold storage facility, designed to give the company greater control over inventory and more flexibility to scale exports. Bailey explained that the investment will help reduce reliance on external warehousing while insulating the business from supply chain bottlenecks.

“We’re putting in 15,000 square feet of cold storage space so that we can hold more finished product and raw material. That means we’ll be able to keep goods for as long as two years if we need to, which is a big part of ensuring we can respond quickly to demand, both locally and overseas,” he said during the company’s Annual General Meeting which was held in hybrid format.

Spur Tree’s transition did not happen overnight. In early 2022, the company began mapping a five-year pivot away from being seen strictly as a seasonings manufacturer. It acquired Exotic Products — an ackee-processing plant in St Thomas — and began planting an 80-acre ackee orchard, aiming to bolster supply over the long run.

“We want to use the capacity at Exotic Products…to present products that grow the portfolio and propel us towards our vision of being a food company,” Bailey said then.

Later that year, Spur Tree secured a 51 per cent stake in Canco Limited, trading as the Linstead Market brand, which gave the company access to around 20 product formulations, including canned ackee and callaloo. The Fair Trading Commission cleared the acquisition, finding no substantial competition concerns in export markets.

Then in mid-2024, rather than an outright purchase, Spur Tree entered into an agreement with a farm owner, giving the company access to 44 acres dedicated to peppers. Bailey told shareholders the deal secured a stable supply of one of Spur Tree’s most critical raw materials, while allowing the company to avoid the heavy capital outlay of a full acquisition.

“We’ve worked out an arrangement with the owner that ensures we can meet our production needs while building resilience against climate shocks,” he said.

The push into new categories is in part expected to deepen Spur Tree’s business in the food service industry, which Bailey says currently accounts for 40 per cent of overall revenues.

“We see a lot of good opportunity in food service, we see it both locally and internationally,” Bailey said.

“In fact, if you ask us, Spur Tree Spices started by focusing first on food service and then branched out into retail. And we think there is far greater opportunity in food service now. It’s also in line with how customer behaviour and trends are evolving. I see where more customers are eating out, so we are aligning ourselves with that need,” he continued.

Further, the company wants to secure revenue share from export markets, including the United States, Canada, the United Kingdom, the Cayman Islands, Costa Rica, and Panama.

Spur Tree is not alone in chasing those markets. Established giants like GraceKennedy, with its extensive distribution channels and broad product base, remain dominant players. Walkerswood continues to capitalise on its reputation for premium jerk products, while Derrimon Trading is leveraging store fronts in the US to carve out share for the Spicy Hill Farms brand.

Even so, Bailey believes Spur Tree has built enough momentum to keep expanding.

So far, in 2025, Spur Tree Spices has shown steady momentum despite headwinds. In Q2, revenue climbed to $346.7 million from $328.8 million a year earlier, up 5.5 per cent year-on-year, lifting quarterly net profit by 11.9 per cent to $21 million.

Still, for the half-year, revenues slipped 5.6 per cent to $683.1 million and net profit fell 15 per cent to $45.2 million as slower consumer activity in key export markets and a shortage of ackee supply weighed on growth.

BAILEY…we expect for this year, there are going to be some significantly game-changing products that are going to be coming to market (Photo: Karl Mclarty)