Bangkok--17 Oct--Minor International
Minor International (MINT) announced today that it has reached an agreement to purchase a 50% stake in Coffee Club Holdings Pty Ltd (The Coffee Club) for A$ 23 million plus additional amounts payable over two years depending on the financial performance of The Coffee Club. The Coffee Club is one of Australia's largest and fastest growing restaurant franchisors with system wide sales of A$ 145 million and more than 180 outlets operating in Australia and New Zealand under its own brand name. The Coffee Club's three founding shareholders will retain a 50% stake and remain as managing directors of the company. MINT will cooperate with management to support the expansion of The Coffee Club brand in
Australia and internationally. The transaction is subject to customary closing conditions and is expected to
be completed by the end of this year.
By acquiring a stake in The Coffee Club, MINT has advanced its strategy of acquiring well managed brands in large and growing markets that have strong potential to expand internationally under an asset light franchise business model. The Coffee Club is a leading Australian casual dining, full service restaurant brand that provides a strong coffee offering and serves breakfast, lunch and dinner meals. It operates a franchise system that is expanding by more than 25 outlets per year and expects to reach 300 in Australia alone within five years. With 10 outlets already operating successfully in New Zealand and trademarks that are registered in more than 12 countries, MINT plans to leverage its own international system of restaurant outlets to support The Coffee Club's plans to expand internationally.
MINT is delighted to add The Coffee Club to its diverse portfolio of brands which already includes pizza, ice cream, steak and burger concepts. The Coffee Club increases the size of MINT's franchise system from 107 to 287 outlets with franchised outlets now accounting for 33% of MINT's total restaurant outlets system wide. As MINT expands its The Pizza Company and Swensen's restaurant brands internationally, it will support the growth and development of The Coffee Club in many of the markets where it currently operates and expects to operate in the future.
The Coffee Club was founded in 1989 in Brisbane and today has more than 180 outlets operating in every state in Australia and New Zealand under its own The Coffee Club brand. It is one of Australia's largest and fastest growing franchisors with system wide sales of A$ 145 million. For more information on The Coffee Club, please visit www.coffeeclub.com.au.
Minor International (MINT) is Thailand's largest food service operator with more than 650 outlets system wide under The Pizza Company, Swensen's, Sizzler, Dairy Queen, Burger King, and LeJazz brands. It is also one of Thailand's leading hotel operators with a portfolio of 15 hotels and over 2,300 rooms under the Marriott, Four Seasons, Anantara, and Minor International brands in Thailand, the Maldives, and Vietnam.
MINT is also one of the largest spa operators in the Asia Pacific region with more than 23 spas in Thailand, China and the Middle East under the Mandara, the Spa and Anantara brands. In January 2007, Minor International was recognized by Asia Money magazine as Thailand's Best Managed Small Cap Company for financial and business performance, management strategy and vision, and shareholder value creation. For more information, please visit www.minornet.com
Press Contacts: Pratana Manomaiphiboon / Prapharat Tangkawattana / Jim Fralick at Tel: (662) 381-5151