The announcement follows the news that New Zealand company Cooks Food Group (Cooks) has entered a conditional sale and purchase agreement to acquire shares of Franchise Development Ltd; a deal which will see Cooks gain master franchising rights to Esquires Coffee Houses in countries across the world.
New Zealand entrepreneurs Stuart and Lewis Deeks, who also founded Esquires Coffee Houses New Zealand before selling the rights to the Retail Food Group in 2011, own FDL. The company is also responsible for the master franchise rights to Esquire Coffee Houses in many parts of the world including Asia, the Pacific Islands, North Africa and the Middle East.
In connection with the transaction to Cooks and through a $1.3 million secured advance from the company, FDL has now also acquired the Canadian company Esquires Coffee International. As a result of this sale, its has become the master franchisor of the global intellectual property rights to Esquires Coffee Houses and now overseas a network that includes the UK and Ireland franchises operations but excludes Canada, New Zealand and Australia.
Kirton said: “This investment in the Esquires Coffee Houses network is very welcome news. Whilst business will remain as usual in the UK, we will additionally benefit from a stronger global brand and the experience and expertise that will be made available to all master licensees.”
Published: 17 June 2013
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