REG - Cooks Coffee Company - Statement re significant expansion - new openings

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05/10/2022 09:34

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RNS Number : 7727B  Cooks Coffee Company Limited  05 October 2022

5 October 2022

 

Cooks Coffee Company Limited

 

("Cooks Coffee", the "Company" or the Group)

 

Significant expansion with new café openings across the UK and Ireland

 

Cooks Coffee Company (NZX:CCC) the international coffee focused café chain,
is pleased to announce a significant expansion in the number of cafés
operating under the Company's Esquires and Triple Two brands, representing
expected growth of almost 10% in store numbers before the end of the year.

 

The Company's Esquires chain, which had 50 UK cafés at the end of September
2022, has recently opened a new outlet in Islington, London, with a further
three openings in towns in Northamptonshire and Bedfordshire, England, planned
before the end of 2022.  A further five store openings are currently
scheduled in the UK in Q1 2023.  In Ireland, Esquires will shortly have a new
café operating in a Dublin suburb and a further opening is planned in County
Carlow in Q1 2023, to add to the existing 15 Esquires cafés in Ireland.

 

The Company's Triple Two brand is also focused on a significant number of
expansion opportunities, having already doubled the number of Triple Two
cafés in the last twelve months to 20, before these planned new launches.
This month will see the launch of the first of Triple Two's "Triple Two Go"
vans, providing a mobile coffee outlet in the Manchester, UK, area.
Additionally, five new stores are currently planned to be opened in London and
the south of England before the end of 2022.

 

With these additional café openings Cooks Coffee's total store count is
expected to rise from 111 cafés across the UK, Ireland and the Middle East
as at the end of September 2022 to over 120 by the end of 2022.  Significant
further expansion is anticipated, with the Company having a very healthy
pipeline of additional opportunities in negotiation which are expected to see
further stores opening in the first half of 2023.

 

As announced on 15 August 2022, Cooks Coffee is planning to dual list on the
Aquis Growth Market in London in Q4 2022.

 

Keith Jackson, Executive Chairman of Cooks Coffee Company, said:  "We are
delighted with the recent performance of both our Esquires and Triple Two
cafés as we continue to build a business of ethical coffee brands with
community spirit.  Building on our position as the fourth largest coffee
focussed café chain in the UK (behind Starbucks, Costa and Caffé Nero),
and the largest solely franchisor focused café chain in the UK and Ireland,
we see considerable opportunities for further growth.

 

"The Cooks Coffee franchise model promotes individual entrepreneurship and
local community engagement, which appears to be resonating both with people
who want to partner with us to open new sites and existing franchisees looking
to grow their businesses through innovative new offerings.  Having emerged
from the pandemic in a healthy position I believe Cooks Coffee is now poised
for significant growth that will deliver value for our shareholders.  I look
forward to providing further updates in due course as we progress our planned
dual listing on the Aquis Growth Market in London and continue to grow the
business."

 

Enquiries:

 

 Cooks Coffee Company Limited        +64 21 702 509 (New Zealand)
 Keith Jackson (Executive Chairman)  +44 (0) 20 3814 5627 (UK)
                                     ukinvestorrelations@cookscoffeecompany.com
                                     (mailto:ukinvestorrelations@cookscoffeecompany.com)

 

 IFC Advisory Limited(Financial PR & IR)                     +44 (0) 20 3934 6630
 Tim Metcalfe                                                cookscoffee@investor-focus.co.uk (mailto:cookscoffee@investor-focus.co.uk)

 Graham Herring
 Florence Chandler

 VSA Capital Limited (Aquis Corporate Adviser & Broker)      +44 (0) 20 3005 5000
 Andrew Raca, Pascal Wiese (Corporate Finance)
 Peter Mattsson (Corporate Broking)

 

About Cooks Coffee

 

Cooks Coffee is an international coffee focused café chain building a family
of brands serving coffee, a full range of complimentary beverages and an
extensive range of food, all sharing a passionate philosophy to provide their
communities with excellent products and service based on integrity,
sustainability, innovation and appealing environments.

 

The Group operates under two brands:  Esquires Coffee was founded nearly 30
years ago and Cooks Coffee acquired the global rights (excluding Australia and
New Zealand), focusing on operations in the UK and Ireland in 2013.  Triple
Two Coffee was acquired in June 2020 and has an offering that is complementary
to Esquires. Triple Two was founded in 2016 and it is currently one of the
fastest growing coffee focused cafe brands in the UK.

 

With Esquires and Triple Two, Cooks Coffee has 111 outlets across the UK,
Ireland and its international markets as at the end of September 2022.

 

To find out more, visit www.cookscoffeecompany.com
(http://www.cookscoffeecompany.com)

 

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