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Coffee Follows Pizza

 

Posted on 22 September 2016

The largest chain of franchised Costa Coffee stores in Scotland has been sold to CP Properties in a £multi-million deal initiated and project managed by Smith Cooper.

Key details of the deal include:

  • Target - Coffeepots, operating Costa stores around Glasgow between Greenock and Falkirk
  • Sellers - Private shareholders - who started up and built the business over the last decade
  • Buyer - CP Properties, owned by private investors that recently sold successful Domino's businesses
  • Date - August 2016
  • Our Role - Smith Cooper provided full deal management services to the Sellers
  • Background - Costa Coffee is a global business operating in around 30 countries and is owned by Whitbread PLC. It dominates the UK coffee shop market with approximately 2000 stores, about 41% of which are franchised, and operates around 4700 Costa Express machines. Whitbread plans to grow worldwide store numbers by 200 in 2016, targeting £2.5bn of global sales by 2020. 

Our comment - “This transaction adds to a growing number of food and drink related assignments handled by Smith Cooper Corporate Finance, this being the fifth Costa sale. Coffeepots is an excellent, profitable business that regularly tops the Costa standards charts. It has been acquired by energetic, highly experienced and effective operators with great track records in the food and drink franchise sector."

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