Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Cooks Global Foods jumps 13% on Esquires expansion plan

Shares in Cooks Global Foods jump 13% on Esquires expansion plans in Middle East

By Tina Morrison

Feb. 13 (BusinessDesk) – Shares in Cooks Global Foods, which has the global franchise rights for Esquires Coffee Houses outside of New Zealand, Australia and Canada, jumped 13 percent after the company detailed expansion plans for the coffee chain in the Middle East.

Cooks expects its first Esquires outlets to open in Oman and Qatar within the next six months after signing a master franchise agreement for the countries with Al Barzah Restaurant Management, the Auckland-based company said in a statement.

The agreement adds to Esquires franchise agreements covering 16 stores in the Gulf Cooperation Council countries of Saudi Arabia, Kuwait, Bahrain and the United Arab Emirates, the company said. Cooks says it has commitments for more than 80 Esquires coffee houses across the Arab economic alliance countries, where it sees potential in high levels of disposal income and economic growth.

Shares in Cooks, which are listed on the small cap NZAX market, rose 2 cents to 17 cents as a result of four trades in which 116,000 shares changed hands.

Stuart Deeks, co-founder of Esquires in New Zealand, has been sounding out further growth opportunities for the business in India, Turkey, Romania, Egypt, Singapore, Malaysia, the UK, Ireland and Canada, the company said.

Separately, Cooks said it has bought the Design Environments business which designs interiors for its coffee chains, for an undisclosed sum in cash.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news