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'Pusser’s not sold'- Charles S. Tobias
Speaking exclusively to Virgin Islands News Online, Mr Tobias said he turned down about three offers in the last couple of years because he did not think the prospective investors were right for his purpose.
Pusser’s is one of the places where tourists frequent while visiting the Virgin Islands and is well known internationally for the Royal Navy’s rum- Pusser’s Rum, the recipe of which Mr Tobias has the exclusive rights to.
According to pussers.com, in 1979, Charles Sydney Tobias formed Pusser's West Indies in the (British) Virgin Islands and undertook to resurrect the Pusser's Rum tradition with which he was familiar. "After much persuasion, the Admiralty Board of the Royal Navy gave him the blend for the rum and shortly afterwards, Pusser's Rum was being shipped commercially for the first time. In return, the Royal Navy Sailor's Fund, a naval charity, receives a substantial donation from the sale of each case. This contribution, aside from the Fund's original bequest, is the Fund's largest source of income," the website stated.
Pusser's Outposts can be found in Road Town, Marina Cay and Leverick Bay as well as several parts of the world, including Munich and Gibraltar.
Meanwhile, this news site had received information that Pusser’s was sold, however, this was refuted by Mr Tobias. “It is not true…I haven’t sold [Pusser’s]. I’m looking perhaps to have a partner but I haven’t signed anything that sells the company,” he said.
“I have had discussions for ten years with people. It doesn’t mean anything. There are always opportunities to complete the process. It is just a question of when I am ready,” he said.
Mr Tobias said he has no intention of relinquishing 100 percent ownership of the business as he still wants to be able to steer the business into the direction he wants.
When asked what percentage of the business he intends to make available for outside investors, he said he was not sure at this time but must await something to be concluded. “I don’t know. I have to have a deal to know what I will do,” said Mr Tobias.
The businessman said he wants to “build” Pusser’s more but it is difficult to do it without a partner. “I guess I am looking for people who want to build the brand to where it could be. We’re looking to hit $100 million in 36 months. I am not even thinking of the economy,” he said.
'I want to stay here'
Mr Tobias said the Virgin Islands is his home and he doesn’t wish to see Pusser’s leave the Virgin Islands.
“First of all I want to stay here. I have no place else I want to go. I don’t have houses anywhere else. I am happy here. So why do I want to leave to die somewhere else,” he said.” So I got to find somebody who shares my values, who feels like I feel about this place and about the brand,” he said.
He said that he is at a time of his life when he has to think about the way things are and where he is headed. “And that’s what it is all about. I would never sell the company to someone who would close the BVI [Outposts] down and get rid of our people. I had an offer and I turned it down cold,” he said.
“I have had three like that in the past three or four years and it wasn’t guaranteed that everything would keep running,” he said.
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18 Responses to “'Pusser’s not sold'- Charles S. Tobias”
keep an eye on he buddy!!
What's wrong with wanting to own things in your own country? You all want to be employees all your damn life with an excuse to b*t*h and whine all the time. Control your own destiny and stop the bulls#@& jealous nonsense about investment club.
needs to pay staff better