Gloria Jean’s to be acquired by Singapore-based Global Yellow Pages

Gloria Jean’s Coffees announced on 20 December its proposed acquisition by Singapore headquartered and SGX listed Global Yellow Pages Limited (GYP). GYP’s acquisition of Gloria Jean’s Coffees, including all “Gloria Jean’s Coffees” and “It’s A Grind” intellectual property, the global supply chain operations, and the master franchisor business for all Gloria Jean’s Coffees coffee houses world-wide, will provide significant funding and resources for its continued global expansion with a focus on Asia, especially China, the company said in a statement.  “We have been looking for some time for the right partner who shares our guiding values, our dedication to excellence and our vision for the future. 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,” said Nabi Saleh, Executive Chairman of Gloria Jean’s Coffees, in a statement. “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 retain interests in the Master Franchisee business of Australia, USA and China. The company stated that all Australian based supply chain and franchise operations will remain at Castle Hill. It said that GYP and Gloria Jean’s executive management will work closely to ensure a continued smooth running of the business, and that Gloria Jean’s Coffees Australian Franchise Partners will continue to build local businesses, keeping profits in Australia and creating jobs for Australians. The transaction continues GYP’s diversification strategy of investing in the food and beverage sector in Asia. Its major shareholders include Stanley Tan (CEO) and, through his investment company, Sam Goi, a leading Singapore businessman and investor. “The partnership is committed to the continued success of the local Australian business in addition to expanding further into Asia, including China,” said GYP Non-Executive Chairman and former Singapore Government Cabinet Minister, Mah Bow Tan, in a statement. “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.” Mah added: “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.” 

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