Costa pays £36m for Coffeeheaven
Wednesday 16 December 2009
Whitbread gave its network of Costa Coffee shops in central and eastern Europe a boost yesterday by agreeing to acquire Coffeeheaven for £36m. Coffeeheaven, based in Poland, will add 90 coffee shops to Costa's growing empire of 1,500 stores in the UK and overseas.
John Derkach, the managing director of Costa, said: "It is an important step forward in achieving Costa's strategic objectives and international growth ambitions. This transaction will give Costa a strong position in the important and rapidly growing central and eastern European market."
Founded in 2000, the AIM-listed Coffeeheaven has 62 shops in Poland, 14 in the Czech Republic and 14 across Bulgaria, Hungary and Latvia. Whitbread is paying 24p in cash for each Coffeeheaven share. On Monday, Costa said sales rose by 6.7 per cent in is third quarter.
- 1 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Driving while dehydrated can be just as dangerous as drink driving, study suggests
- 4 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
- 5 One Direction: Louis Tomlinson launching his own record label, has already 'signed two acts'
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Driving while dehydrated can be just as dangerous as drink driving, study suggests
Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...