The publicly traded New Zealand company that owns most of the global brand rights for Esquires Coffee Houses has plans to expand the retail chain in Canada.
Cooks Global Foods (CGF) has just purchased the intellectual rights for the chain — which offers “Fair trade and Organic beverages in comfortable and modern surroundings — from Esquires Canada for $225,000 Canadian ($234,000 USD). The Esquires concept was founded in Vancouver in 1993, and Esquires franchises now exist throughout Canada, Australia, Europe, the Middle East and China.
CGF bought brand rights for the majority of Esquire’s global markets last year, and the company says it is currently in negotiations for an off-shore acquisition that would provide “substantial placement to introduce new capital.” CGF expects to announce the deal within three weeks, pending successful negotiations.
Existing Escquires stores in British Colombia will be issued license to use the rights but cannot develop new stores under the Esquires name. CGF says they made the move to consolidate their global licensing operations, with intentions to expand globally and in Canada:
The strategic objective for CGF in entering this arrangement is to expand into Canada on its own account building a presence across that market, including in new states and territories. As ECH was founded in Canada, it does have a brand recognition already in that market which CGF looks forward to capitalizing on with further growth.