Costa franchisee to ‘develop new stores’
AM Coffee Holdings, the new owner of 14 Costa sites in Surrey, has said it is looking to grow sales and open more stores.
The “multi million transaction” saw the new company purchase the 14 sites in high streets and shopping centres in Biggin Hill, Bromley, Edenbridge, Hayes, Lingfield, Locks Bottom, Orpington, Oxted, Purley, Sanderstead, Felsdon, Westmoreland Road and two sites in Petts Wood from Goldex Investments Limited, which was until recently the largest franchised Costa Coffee store operator in the UK.
AM Coffee Holdings, which was incorporated on 16 March 2018, is owned by former Domino’s franchisees Jaz Mirza and Ahsan Munir, who have multiple business interests.
The management team that operate the Surrey business, which employs around 120 staff, are to remain with the business.
Munir said: “This deal marks our entry into the highly-coveted Costa brand with a significant number of well-run stores built up by one of the most experienced operators in the sector.”
He said they would be focusing on growing the sales of the existing portfolio and, in due course, would develop new stores.
Head of partnerships at Costa, Roger Welsh, said: “We are delighted to see this recent transaction completed for all parties, and welcome Ahsan and Ajaz to the Costa Partnerships team.”
Smith Cooper Corporate Finance acted as lead deal advisers on the deal.
In June this year the advisors were involved in another Costa Coffee deal. South-East based Costa Coffee franchise operator, Cats Eye Trading, which also operated a cluster of Costa Coffee franchise stores in high street locations in Surrey was sold to Kashgroup Trading Limited, owned by entrepreneur Kash Jaffar, an operator of Budgens and Pizza Hut Delivery franchises.
Goldex Investments Limited now has 46 sites in Kent and Sussex.
- Tim Cox, drinks innovation manager, at Costa Express is a member of the European Coffee Expo's Steering Panel.
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