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Australian franchiser buys Esquires from NZ owners

Friday 31st December 2010

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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.

 

NZPA



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