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


Cooks finalises terms for 40 Esquires stores in Indonesia

12 August 2014

Cooks finalises terms for 40 Esquires stores in Indonesia

The Dutch introduced coffee to Indonesia and now a Kiwi company and its local partner are taking on some of the beverage’s best known brands in the world’s most populous Muslim majority nation.

Cooks Global Foods (NZX:CGF) and its contracted Indonesian partners are about to introduce the fast growing global coffee chain Esquires Coffee to the huge market.

Listed Cooks has after six months of negotiation finalised terms on a master franchise agreement that will see a minimum of 40 Esquires Coffee Houses open in the republic over a number of years.

Cooks executive director of business development Stuart Deeks says Starbucks, Coffee Bean & Tea Leaf and Gloria Jean’s have created a burgeoning new industry in Indonesia.

“However, the market presents an exciting opportunity for a new clearly differentiated brand such as Esquires – with our organic and fair trade focus - to enter the market while the coffee shop industry is still in its infancy.

“A deposit has been paid by our partners and a letter of intent signed. All that remains to happen is the approval of Esquires as a franchisor by the Indonesian Ministry of Trade and signing the agreement after a cooling off period.”

Cooks expects the final agreement to be signed in September with the aim being to get four stores up and running during the initial year. The stores will be designed in New Zealand by Cooks subsidiary Design Environments while consumables will be supplied from New Zealand including coffee, tea, powders and syrups.

The company says Indonesia perfectly complements agreements it has signed in Saudi Arabia, UAE, Bahrain, Kuwait, Qatar and Oman. “We have done a lot of work in the Middle East including ensuring all our products have the proper Halal certifications and this will ensure we hit the ground running in Indonesia,” Deeks says.

Stuart Deeks and his brother Lewis Deeks founded the Esquires business in New Zealand before selling the local rights to Australian company Retail Food Group (RFG) in 2010. They are both directors of Cooks and are together the company’s largest shareholder.

Stuart now has responsibility for growing the Esquires business worldwide and says Cooks is continuing with advanced discussions in a number of new markets with further announcements likely shortly.

About Cooks Global Foods
Cooks Global Foods (NZX:CGF) owns the Esquires Coffee Houses brand and system in the United Kingdom and Ireland, where it also directly franchises stores, and the Middle East and China where stores are franchised through master franchise holders.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade: NZ Trade Deficit Widens To A Record In September

Oct. 27 (BusinessDesk) - New Zealand's monthly trade deficit widened to a record in September as meat exports dropped to their lowest level in more than three years. More>>


Animal Welfare: Cruel Practices Condemned By DairyNZ Chief

DairyNZ chief executive Tim Mackle says cruel and illegal practices are not in any way condoned or accepted by the industry as part of dairy farming.

Tim says the video released today by Farmwatch shows some footage of transport companies and their workers, as well as some unacceptable behaviour by farmers of dragging calves. More>>


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


International Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news