Gloria Jean’s Coffees, the Australia-based coffee retailer with more than 800 coffee shops in 39 countries, including more than 120 in the United States, is being acquired by Singapore-based Global Yellow Pages.
The “multi-platform solutions” company, which is listed on the Singapore Stock Exchange and publishes public and classified directories, says it hopes to use the acquisition to expand Gloria Jean’s global growth, especially in emerging markets in Asia. The deal includes 100 percent of Gloria Jean’s Coffees business, including “It’s A Grind” intellectual property, global supply chain operations, and the master franchisor business.
Nabi Saleh, the Executive Chairman of Gloria Jean’s Coffees, will retain interests in the Master Franchisee business for Australia, USA and China, where GYP says they foresee the most immediate growth. “I am excited to have the opportunity to continue to be closely involved with Gloria Jean’s Coffees and I am highly confident that the Gloria Jean’s Coffees brand can reach even greater heights under GYP’s ownership,” Saleh said in a prepared statement.
Gloria Jean’s was actually founded in Chicago in 1979 and thrived as a local chain before moving to Australia and vastly expanding its operations in 1995 after Saleh purchased the company from Diedrich Coffee.