A new company has obtained the global franchise rights to Esquires Coffee Houses – however, it will be business as usual in the UK.
New Zealand company Cooks Food Group has entered a conditional sale and purchase agreement to acquire shares of Franchise Development Ltd (FDL), in a deal which will see Cooks gain master franchising rights to Esquires Coffee Houses in countries across the world.
In connection with the transaction to Cooks, and through a $1.3m secured advance from the company, FDL has now also acquired the Canadian company Esquires Coffee International, Inc. As a result of this sale, it has become the master franchiser of the global intellectual property rights to Esquires Coffee Houses – overseeing a network that includes the UK and Ireland franchised operations, but excludes Canada, New Zealand and Australia.
Peter Kirton, managing director of Esquires Coffee Houses UK, said: “This investment in the Esquires Coffee Houses network is very welcome news. While 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.”