Spur Tree Spices to Food

Albert Bailey is the Executive Director and Chief Executive Officer of Spur Tree Spices, a Jamaican company specializing in authentic Jamaican spices. The company, which started in 2006, targets the Jamaican diaspora in the United States, United Kingdom and Canada, and has grown steadily, growing revenues from J$290M in 2016 to J$701M in 2020, primarily from internal financing. Bailey wanted to expand into Jamaican foods, which would complement the spices. Bailey and his management team debated whether they should raise resources to fund the expansion through debt or equity initial public offering (IPO).