Venture Capital Bank acquires majority stake in Caribou Coffee Bahrain

Venture Capital Bank (VCBank) has acquired a majority stake in the Caribou Coffee and Fuddruckers Restaurant franchises in the Kingdom of Bahrain. From its first outlet in Bahrain in 2007, Caribou has grown its network in the country to 22 stores and is ranked among its top three international coffee shop chains. VCBank says Caribou stores are strategically located across Bahrain and offer its customers high-quality specialty beverages in first-class atmosphere. “We are very excited about the Bank's entry into Bahrain's food and beverages (F&B) sector, through well-known and proven brands such as Caribou and Fuddruckers,” VCBank Board member and CEO Abdullatif Janahi says. “Significantly, coffee is the most widely-consumed beverage in the world after water and with coffee shops having the fastest growth in the food service industry.” Since commencing the Bahrain franchise acquisition process last year, US$2.5 million was invested in extending the Caribou Coffee network through the opening of seven new outlets. VCBank and the founding partner plan to invest a further US$5 million in both franchises in the coming few years. The investment firm also intends to open several Caribou kiosks in busy office complexes and several drive-through service stores. Global Coffee Report has launched a LinkedIn Showcase page. Follow HERE for up-to-date news and analysis of the global coffee industry.