Esquires expands into Northern Cyprus
Northern Cyprus is the latest new territory for Esquires Coffee Houses.
Cooks Global Foods Limited (NZX:CGF) has signed a master franchise deal for five Esquires Coffee Houses in Nicosia, the principal city on the eastern Mediterranean island.
The first store is intended to open in Nicosia in November as part of the island’s first modern multiplex cinema.
The master franchise holder is Baspinar Company Ltd, Cyprus’ largest wheat processor and miller with interests in fast food and property development and construction.
Director of Business Development, Stuart Deeks says “While the Northern Cyprus market is compact, there is only one competitor – Australian chain Gloria Jeans - and none of the world’s major brands. Looks like it’s going to be good Aussie-Kiwi head-to-head.
“Just like Indonesia, Cyprus represents an exciting opportunity for a new and clearly differentiated brand such as Esquires – with our organic and fair trade focus - to enter the market while the coffee shop industry is still in its infancy.”
As with the majority of Esquires Coffee Houses, the new stores are being designed in New Zealand by Cooks Global Foods subsidiary Design Environments. Consumables will be supplied from New Zealand - including coffee, tea, powders and syrups.
Cooks continues to make progress in a number of markets. In Indonesia the formal master franchise agreement is expected to be signed in a few weeks once government approval is received.
New Esquires stores will also soon be open in Jeddah in Saudi Arabia at the airport, at the World Trade Centre in Bahrain and two stores at Gate Mall in Kuwait.
About Cooks Global Foods:
Cooks Global Foods (NZX:CGF) owns the Esquires Coffee Houses brand and system in the United Kingdom and Ireland, where it also directly franchises stores, and the Middle East and China where stores are franchised through master franchise holders.
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