Completion of Share Transactions
Cooks Global Foods receives payment from China’s Jiajiayue Group completing the sale of shares by the largest shareholder and an additional equity injection in Cooks.
Cooks Global Foods Limited (CGF) is pleased to announce that the company has today received $7.9 million from Jiajiayue Group (JJY) with the equivalent amount received or underwritten from Cooks Investment Holdings Limited (CIHL). A total of $9.0 million of the new funds received or committed through the transactions will be used to support Esquires Coffee growth in China, the Middle East, UK, Ireland and North America. The remaining $6.8 million is allocated for the acquisition of the majority of shares from Cooks’ largest shareholder, DSL Management.
CGF Executive Chairman Keith Jackson said: “We are very pleased to have concluded these transactions with our strategic partner JJY and CIHL. We are already looking forward and are well advanced in rolling out our objectives for the new capital to fund our planned growth strategy in the Chinese and global markets.”
In light of completion occurring today, John Stuart Deeks and Lewis Andrew Deeks have resigned as directors of CGF. In accordance with the listing rules, particulars of the share allotments that have occurred on completion are set out below.
Cooks Global Foods
Mob: (021) 702 509
About Cooks Global Foods:
Cooks Global Foods operates in world markets and is listed on the NZAX market
operated by NZX Limited in New Zealand under the code CGF. It owns the intellectual
property and master franchising rights to Esquires Coffee Houses worldwide excluding
New Zealand and Australia. CGF currently operates or franchises Esquires Coffee
Houses in the United Kingdom, Ireland, the Middle East, Indonesia and China. Related
businesses within the group include New Zealand-based supply companies Progressive
Processors and Scarborough Fair, which supply product into both Esquires stores and
other third party customers. See: www.cooksglobalfoods.com
About Jiajiayue Group Co. Ltd:
Founded in June 1981, Jiajiayue Group Co. Ltd (JJY) is wholly owned by Jiajiayue
Investment Holding Co. Ltd as its core subsidiary company. JJY’s main business focus
is as a supermarket chain in the province of Shandong with integrated agriculture
products processing; wholesaling and retailing; and logistics distributing services as part
of the group.
At the end of 2015, JJY employed over 20,000 staff. It owns more than 600
supermarkets in China and aims to reach 1,000 supermarkets by the end of 2017. In
2014, JJY’s sales were more than CNY10.0 billion (NZ$2.4 billion) with total capital
assets of CNY5.7 billion (NZ$1.4 billion).
JJY’s network reaches more than 40 cities and counties in Shandong with a
comprehensive structure of farmers’ markets, department stores, supermarkets and
The company’s vision is “becoming the best Retail Company in China” and the
company’s mission is “creating value for society, customers and employees”. Through
regional intensity and a simultaneous multi-business format developing strategy, JJY is
able to strengthen its logistics chain in fresh and grocery goods distribution while also
gaining scale advantages and obtaining the leading industry position in the Shandong
Online shopping website (Online supermarket) http://www.jiajiayue.com/index.htm