The acquisition includes all Gloria Jean’s Coffees and It’s A Grind intellectual property, the global supply chain operations, and master franchisor business for all Gloria Jean’s Coffees coffee houses worldwide.
The sale will provide significant funding and resources for the chain’s global expansion, with a focus on Asia, especially China.
Nabi Saleh, executive chairman of Gloria Jean’s said the business has been seeing a buyer for some time.
“As a result of months of discovery and ongoing consultation, we are confident that in GYP we have found the right partner to take the business to the next level,” Saleh said.
“We already have more than 800 coffee houses in 39 countries and are excited by the very real prospect of seeing Gloria Jean’s Coffees continue to grow internationally to become a truly global coffee house brand.”
Saleh will maintain a significant ongoing role in the Australian operations, and will assume the role of non-executive chairman of the newly formed GYP-owned holding company for the Gloria Jean’s Coffees business. Saleh will also retain interests in the master franchisee business of Australia, the US, and China.
All Australian based supply chain and franchise operations will remain at Castle Hill. GYP and Gloria Jean’s executive management will work together to ensure a continued smooth running of the business.
The transaction continues GYP’s diversification strategy of investing in the food and beverage sector in Asia. Its major shareholders include CEO, Stanley Tan, and, through his investment company, Sam Goi, a Singapore businessman and investor.
GYP non-executive chairman Mah Bow Tan said the partnership is committed to the continued success of the local Australian business in addition to expanding further into Asia, including China.
“GYP shares Gloria Jean’s Coffees vision for the brand and its potential for further growth as a values-oriented socially responsible business delivering excellence in coffee and café culture.
“The business will benefit from a bigger global group structure whilst still having a firm focus on supporting local, Australian entrepreneurial Franchise Partners. We see this partnership as the best of both worlds, combining international capital, expertise and resources with Australian entrepreneurialism,” said Mah.