Lusca Group Receives Final Approvals for Acquisition of Morton Bahamas Limited, Rebrands as Lusca Salt Bahamas Limited, and Announces US$125 Million Investment Programme for Great Inagua

Lusca Group is pleased to announce that its subsidiary, Grand Bahama Salt Company Ltd., has received the final regulatory approvals for its acquisition of 100% of the shares of Morton Bahamas Limited, operator of the solar salt production facility at Matthew Town, Great Inagua. Closing will take place on 1 June 2026, after which the company will be renamed Lusca Salt Bahamas Limited, with its products brought to market under the “Bahamas Salt” brand.

The closing follows approval from the National Economic Council and the Bahamas Investment Authority, together with the necessary consents from the Central Bank of The Bahamas and other relevant agencies. Lusca Group extends its sincere thanks to the Government of The Bahamas, and in particular to the Prime Minister, for their constructive engagement and support throughout the process.

A New Name, A New Chapter

The rename to Lusca Salt Bahamas Limited marks the start of a new chapter for the business. The operation has a proud industrial heritage spanning decades, and Lusca Group intends to build on everything that has worked well.

It must also be acknowledged that the asset and the island have faced significant headwinds in recent years, with constrained salt production and a number of operational challenges weighing on performance. The change of ownership presents an opportunity to draw a clear line under the past, refresh the company’s identity, and reintroduce the business to its customers, its workforce, and the Inagua community with renewed purpose. Lusca Group looks forward to working with all stakeholders to invest in the asset and the island, and to set the business up for long-term success.

Lusca Salt Bahamas Limited will operate with a single guiding principle: to be a long-term, responsible steward of the facility and a constructive partner to the island.

Building on Best-in-Class Operational Standards

Lusca Group wishes to recognise the operational standards established at the facility under Morton’s stewardship, which are widely regarded as best practice in the global solar salt industry. These standards — covering product quality, environmental management, and safety — will be maintained in full. The immediate operational focus will be on expanding production capacity, with the objective of doubling production volumes over the next two years while preserving the quality and consistency for which the facility is internationally known.

In parallel, an in-depth study will be undertaken into the construction of an on-site salt upgrading and packaging facility to produce food-quality salt. Investing across the value chain is central to the long-term success of the salt operation on the island.

The Great Inagua operation is intended to serve as the foundation for Lusca Salt’s wider expansion across the Caribbean and into global markets in the years ahead.

A US$125 Million Investment in Great Inagua

Lusca Group will invest up to US$125 million across the salt facility and the wider island over the coming years. The programme reflects the Group’s long-term confidence in Inagua and its people. Investment will be directed not only at the salt operation but at the island as a whole — because a thriving facility depends on a thriving community around it.

Priority areas under consideration include:

• Power generation and grid resilience, including a dedicated solar power plant;

• Modernisation of Inagua Airport to support transport to and from the island;

• Upgrades to the Inagua General Store and other essential services on the island;

• Community infrastructure and local initiatives, developed in partnership with residents and The Bellaria Foundation, the charitable organisation of the Rowland family.

Solar Power Plant

Lusca Salt Bahamas Limited has received approval-in-principle to construct a dedicated solar power plant to serve the salt facility and related operations, with the intention of connecting surplus electricity to the Inagua Town grid. Once delivered, the plant is expected to reduce the facility’s reliance on imported fuel, improve resilience, and contribute clean energy to the wider community.

Modernisation of Inagua Airport

Lusca Group has also confirmed its intent to assume responsibility for the management and modernisation of Inagua Airport, with the goal of bringing the facility up to international standards for business travellers and tourists. A comprehensive proposal will be submitted to the Government of The Bahamas in due course. The Group’s objective is to improve passenger experience, expand the number of scheduled flights serving the island, and support Inagua’s broader economic development.

The General Store and Everyday Life on Inagua

The Inagua General Store has long been a cornerstone of daily life on the island. Lusca Group intends to invest in refreshing and improving the store, ensuring residents have reliable access to quality goods and services as the island grows.

In addition, the original salt storage facility in town will be fully refurbished as a leisure and community centre for the wider Inagua community and the visiting tourist sector.

Commentary

“Closing this transaction is a significant milestone, but the real work begins now,” said Richard Muckle, Director of Lusca Group. “Great Inagua has an extraordinary heritage in salt production, and we intend to honour that legacy by building on the operational standards we have inherited. The rename to Lusca Salt Bahamas Limited represents a fresh start — a new chapter for the business and, we hope, for Inagua itself. Our investment will extend well beyond the salt facility, because we believe the facility and the island succeed together. We are grateful to the Government of The Bahamas, and we look forward to many productive years ahead working alongside the people of Inagua.”

About Lusca Group

Lusca Group is a privately owned industrial investment holding company with offices in The Bahamas and Europe. The Group focuses on strategic investments in physical commodities and infrastructure, building on its experience in storage, logistics, and resource development.

Media enquiries:

media@luscagroup.com