QLD Gloria Jean’s Coffees (GJ’s) Franchisees are set to experience greater success in 2014 with the proposed acquisition of the brand by Singapore-based firm Global Yellow Pages (GYP). The acquisition will be finalised in March 2014.
GYP has set its sights on ensuring greater global success for the GJ’s brand, with a push to expand GJ’s further into Asia, and in particular, China. GJ’s currently has more than 800 coffee houses in 39 countries, and this is set to grow.
GYP Non-Executive Chairman and former Singapore Government Cabinet Minister, Mah Bow Tan, said that GJ’s 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,” Mah said.
“The partnership is committed to the continued success of the local Australian business, in addition to expanding further into Asia,” he said.
“The coffee drinking culture is growing fast in many Asian countries and we believe that this acquisition will provide GYP with a platform to tap into this growing trend in Asia, especially China.”
“GYP shares GJ’s vision for the brand and its potential for further growth as a values-oriented socially responsible business delivering excellence in coffee and café culture.”
In this interest, current Executive Chairman of GJ’s, Nabi Saleh, confirmed he would continue to have a significant role in the Australian operations, as non-Executive Chairman. Saleh will also retain interests in the Master Franchisee business of Australia, USA and China.
“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 Saleh.
Comforting any nerves that QLD franchisees have for the future, GJ’s confirmed all Australian-based supply chain and franchise operations will remain at Castle Hill.
A statement from GJ’s said GYP and GJ’s executive management will work closely to ensure a continued smooth running of the business.
Redmako continues to provide support to QLD’s hospitality industry, including to GJ’s franchise owners.
Redmako Business Sales currently has at least three GJ’s businesses listed for sale, with one contract expected to settle in mid-March.
“We’ve had a lot of interest in the GJ’s businesses, with savvy business investors trying to get in early before the expected brand growth later this year and into the future,” said Redmako Business Sales Senior Business Broker, Brendon Crabtree.
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Redmako will provide a further update in March.