Cooks Coffee Company Limited (AQUIS:COOK, NZX:CCC), the international coffee focused café chain, has announced that Esquires Coffee has entered into a Master Franchise Agreement for the United Arab Emirates.
The UAE is one of the fastest growing markets for speciality coffee outlets globally with the growth projected to be 10%-12% p.a. driven by expanding tourism and high expat population growth fuelling demand.1
The MFA is a 10-year agreement, with a right of renewal, and provides for the opening of a minimum of 50 Esquires Coffee outlets in the UAE over the term of the agreement. The parties to the agreement are successful operators in the UK with multiple stores in the Southeast of England.
This agreement represents a further step in the Group’s international expansion strategy and supports the continued growth of the Esquires Coffee brand in key global markets.
Keith Jackson, Chairman of Cooks Coffee Company, commented: “This Master Franchise Agreement marks another important milestone in the international development of the Esquires Coffee brand. The UAE represents an attractive market, and we look forward to growing the brand in the region over the coming years.”
