Sharechat Logo

Australian franchiser buys Esquires from NZ owners

Friday 31st December 2010

Text too small?

An Australian food franchiser has agreed to buy the Australasian rights to the Esquires Coffee Houses chain from an Auckland family.

The Gold Coast-based Retail Food Group (RFG) is spending about $A9 million ($NZ11.86 million) to acquire Esquires Coffee Houses from the Deeks family, the Gold Coast Bulletin reported.

Esquires Coffee Houses' Auckland-based director Stuart Deeks said the deal was yet to be completed, but they were happy to be working with such a prestigious company.

RFG financed the purchase through cash reserves, although some shares would be issued to the Deeks, who own Esquires franchise rights outside Europe and North America.

RFG chief executive Tony Alford said the franchise would help expand its bb's cafe chain.

The Deeks family operates 46 Esquires cafes in New Zealand and more than 60 worldwide, including outlets in the United Arab Emirates, Saudi Arabia, Bahrain, China and Fiji. There are currently no Esquires outlets in Australia.

The Deeks family would continue to manage the franchise in emerging markets, including the Middle East.

RFG is the owner and manager of a number of franchises including Donut King, Brumby's Bakeries and bb's cafe.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report
VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report