EXCLUSIVE: Cooks Global Foods to raise up to £10m in equity for acquisitions | QSRMedia UK | QSR news for UK's quick service restaurant industry.
,UK

EXCLUSIVE: Cooks Global Foods to raise up to £10m in equity for acquisitions

Triple Two Coffee is looking to supercharge its parent company's portfolio development.

Triple Two Coffee co-founder and managing director David Hodgetts said the chain's parent company Cooks Global Foods is looking to raise between £8 to £10 million in equity in the next three to four months to fund potential acquisitions of food & beverage brands.

"They [Cooks] see there's a real opportunity in the market at the moment to take on the sort of struggling brands that have a lot of potential," he told QSR Media in an exclusive interview.

Hodgetts listed coffee chains, bakery chains and fast food takeaway brands as those in the "top of the pile" for Cooks. Whilst inclined to get franchised brands, he said the New Zealand listed parent is also open to acquire startups with growth potential.

"Established brands would be a preference. [On] acquiring a newer brand, there's going to be a lot of work", he said, but clarified they remain positive and open to look at such opportunities.

The executive also confirmed that he has had conversations with "high net-worth" entrepreneurs interested in the equity raising.

Aside from Triple Two Coffee, Cooks also owns the international intellectual property and master franchising rights to the Esquires Coffee brand (excluding Australia and New Zealand).

Hodgetts said they are looking to get more involved in the acquisition plan, arguing that there's room for Cooks to be "more acquisitive" and "faster-moving" and avoid missing out on brands, referencing purchases made by other restaurant groups.

"We will be really active in finding these opportunities, using contacts within the industry to grow this."

Whilst operating on a 3-4 month window, Hodgetts said he does not anticipate heavy competition on the acquisition front, citing bigger businesses that are focused on consolidating due to weather the impact brought by restrictions due to COVID-19.

"I think the way that you do these acquisitions is that you bring on brands, and, if they have a good management team, try and keep them on so then you've got continuity, and you've got different managing directors running their businesses. And then it becomes a lot easier to manage," he added.

Get QSRMedia UK | QSR news for UK's quick service restaurant industry. in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Organisations also welcomed the report’s latest recommendations.
The chain says Europe will be a vital part of their growth.
The division’s first dedicated activation will take place this summer.
Triple-digit order growth was seen in London.
The brand aims to offer "unrivalled flexibility."
It recently opened its first store in Wales.
The 3,500 sq ft location will open later this summer.
The lifting of social distancing measures “brings huge relief for hospitality venues,” UKHospitality said.
Starting July 19, the fast food chain will dish out specially created Beano goodies for its younger customers visiting the restaurants.
This is the chain’s 64th UK restaurant opening.
The fast food giant’s updated climate action strategy also seeks solutions to reduce embodied and operational carbon from its venues.
It had hired 1,000 new staff members to help drive its rebound following the pandemic.
This is his biggest Street Burger restaurant yet.

Event News

Event News

QSR Media UK is pleased to announce we are in partnership with The Restaurant & Takeaway Innovation Expo for their 2021 show.
Restaurant & Takeaway Innovation Expo’s 2021 show to happen on November 9 & 10

Restaurant & Takeaway Innovation Expo’s 2021 show to happen on November 9 & 10

QSR Media UK is pleased to announce we are in partnership with The Restaurant & Takeaway Innovation Expo for their 2021 show.