The New Zealand-based operator of the Esquires and Triple Two coffee chains says strong neighbourhood store sales in the UK and the Republic of Ireland have enabled the group to surpass pre-pandemic trading
A Triple Two store in Bristol, UK | Photo credit: Cooks Coffee Company
Cooks Coffee Company, the New Zealand-based of operator of the Esquires and Triple Two coffee chains, is gearing up for a UK listing after posting strong sales in the UK and Ireland.
Reporting its quarterly sales April-June 2022, Cooks said trading across both brands in the UK and Republic of Ireland, where operates around 70 stores, was up 90% compared to the same period in 2021 and 34% higher than pre-Covid sales.
Cooks added that more customers working from home since the pandemic had contributed to ‘significant growth’ in suburban and neighbourhood areas, with Esquires stores in these locations trading 56% higher than before the pandemic.
The positive trading meant there was a ‘strong pipeline’ of store openings for the remainder of 2022 Cooks added, with dual listing in the UK planned.
“Based on the interest and growth of our business we are planning to go ahead with a dual listing in the UK.” said Executive Chairman Cooks Coffee, Keith Jackson.
Cooks Coffee Company is already listed on the New Zealand Exchange (NZX).
Cooks Coffee operates around 70 Esquires and Triple Two coffee shops in the UK and a further 15 outlets in Ireland. It also manages franchised outlets in Portugal and across the Middle East and south-eat Asia.
Cooks raised around $5.5m from existing shareholders and new investors in December 2021. In April the 2022 the group changed its name from Cooks Global Foods Limited to Cooks Coffee Company.