Blue Water Global Group (OTC: BLUU), a publicly held developer of casual dining restaurant properties and premium distilled spirits focused on the fast-growing Caribbean tourist market, has completed what is perhaps the most active and successful month in the company’s history. The company gained approval and broke ground for its first highly anticipated Blue Water Bar & Grill restaurant at Indigo Bay in popular St. Maarten, Dutch West Indies. It also officially launched its line of premium rums, now available for wholesale and retail purchase in St. Maarten, and coming to other select retail outlets in the Caribbean. In addition, Blue Water boosted shareholder attractiveness by announcing a net overall reduction of common stock by 8,600,000 shares, or 6.8%. All of this was accomplished in the short month of February.
Site Preparation Now Active For Flagship Restaurant
Blue Water has now broken ground and is actively preparing the construction site for their first Blue Water Bar & Grill restaurant in one of the most desirable locations in the Caribbean, Indigo Bay at St. Maarten in the Dutch West Indies. Work began shortly after final approval was received from St. Maarten government officials. Indigo Bay is known for its breathtaking ocean views and beaches, as well as its proximity to the island’s international airport, commercial center, and cruise ship docks. An estimated 2 million cruise ship passengers come to St. Maarten every year, brought in large part by cruise lines such as Carnival (NYSE: CCL) and Royal Caribbean (NYSE: RCL).
It’s the ideal location for the first in what is planned to be a string of Blue Water Bar & Grill restaurants, providing the kind of consistent and reasonably priced Caribbean-rich experience that has been lacking in Caribbean food service options. The restaurants will offer a fun tiki-themed ambience, with a pool and swim-up bar, large covered patio offering great views, and dependable quality food, all designed to eventually make Blue Water Bar & Grill a must-stop site on islands throughout the Caribbean.
Initial site preparation involves the removal of roughly 70-80 thousand excavator scoops of earth, and the company has vowed to keep investors up-to-date through the entire construction process. Upcoming photos of the construction site and excavators in action may be viewed on the Blue Water Bar & Grill website (http://www.bluewaterbar.com/) and Blue Water’s Facebook page (https://www.facebook.com/pages/Blue-Water-Global-Group/577630375624495).
St. Maarten Launch Party Kicks Off Blue Water Premium Rums
With work on their first Blue Water Bar & Grill restaurant underway, the company has also launched their line of premium rums in St. Maarten, including Blue Water Ultra Premium Rum™ and aged spice Blue Water Caribbean Gold™ Premium Rum. The rums represent an important support element to the restaurant and the Blue Water brand. Rum is the quintessential spirit of the Caribbean, and premium rums represent the fastest growing rum segment globally. Diageo (NYSE: DEO), Castle Brands (NYSE: ROX), and United Spirits (BOM: 532432) have all moved to expand in the rum market. The Blue Water rums will be available for drinks at their restaurants to further enhance the Caribbean atmosphere, plus will be available for purchase as a take-away, encouraging the introduction of the Blue Water brand name to friends and family back home. The premium rums and Blue Water Bar & Grill will thus continually support one another in a carefully planned marketing move.
In a major launch event headlined by acclaimed reggae recording artist Bankie Banx, recently held at The Red Piano, one of St. Maarten's most famous nightlife locations, Blue Water was able to showcase their new premium rums and at the same time support a local charity. For every $10 donated to Camp Goldendog, St. Maarten’s first planned animal shelter, event attendees received one Blue Water premium rum cocktail. Island 92, St. Maarten’s classic rock and blues radio station, and BIG PHOTOBOOTH SXM, the ultimate photo booth entertainment experience, joined The Red Piano in co-sponsoring the Launch Party to further awareness for Camp Goldendog.
Of special note is that the timing of Blue Water’s rum launch coincides with an important upcoming world-class sailing event, the 35th Heineken Regatta, which runs from March 5th through the 8th, hosted at St. Maarten. It’s one of the world’s best and biggest sailing regattas, and ensures that prominent visitors from all over the world will be able to try Blue Water’s premium rums.
Outstanding Common Share Reduction And Management Incentives
Along with February’s building and launch activities, Blue Water also undertook a financial move in support of investors. In late February, the company announced the cancellation of 12,500,000 shares of its outstanding common stock, and the issuance of 3,900,000 restricted shares to its executive officers, J. Scott Sitra (3,000,000 shares) and Michael Hume (900,000 shares). The result is a net overall reduction of Blue Water’s common stock by 8,600,000 shares, or 6.8%.
The share reduction and incentive issuance, with its three-year vesting schedule, helps keep Blue Water’s shareholders and management’s interests aligned.
Astute Plan And Reliable Execution
Blue Water Global Group has put together an intelligent approach for filling an unmet need in an expanding market. The Caribbean food industry’s relative lack of consistent quality and attractive pricing, associated with an identifiable brand, provides Blue Water with a unique opportunity in a major tourist destination. Their parallel development of premium rum offerings as both a restaurant support and brand marketing tool is a discerning move.
Blue Water management has been persistent in overcoming challenges, and is making steady progress at turning their good idea into a physical reality. Over the next several years, the company expects to continue development, opening Blue Water Bar & Grills in other key locations:
- Aruba, Dutch West Indies
- Nassau, Bahamas
- Cozumel, Mexico
- Grand Cayman
- Barbados
The recent successful Shake Shack IPO (NYSE: SHAK), raising over $100 million, suggests the potential of identifying and addressing an unmet need in a popular food market. Doing so in the lucrative Caribbean tourist market could lead to the success of Blue Water’s ambitious plans.
For additional information, visit the company’s website at www.BlueWaterGlobalGroup.com.
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