The New Zealand-based operator is focusing on the UK and the Republic of Ireland to grow its Esquires and Triple Two coffee chains, where it says there are “considerable opportunities” for the brands
The Esquires coffee chain currently operates 111 stores across the UK, Ireland and the Middle East | Photo credit: Esquires Coffee
Cooks Coffee Company will focus on the UK and the Republic of Ireland to drive the expansion of its Esquires and Triple Two Coffee chains.
The New Zealand-based operator is seeking a 10% increase in the number of outlets across the markets as part of plans to reach 120 stores globally by the start of 2023.
Esquires, which operated 50 coffee shops across the UK at the start of September 2022, recently opened a new London outlet and plans at least another three openings across the UK before the end of 2022.
A further five store openings are currently scheduled in the UK in the first quarter of 2023.
In Ireland, Esquires will also add at least two locations to its existing 15 cafés in the country.
Cooks Coffee Company has already doubled the number of Triple Two stores in the last year to 20 and is launching its first ‘Triple Two Go’ vans in October 2022, providing mobile coffee outlets in Manchester, UK.
Cooks Coffee Company’s total store count is expected to rise from 111 globally to over 120 by the end of 2022. The company also operates franchised stores in Portugal, the Middle East and Asia.
Reporting its quarterly sales April-June 2022, Cooks said trading across both brands in the UK and Republic of Ireland, was up 90% compared to the same period in 2021 and 34% higher than pre-Covid sales.
“We are delighted with the recent performance of both our Esquires and Triple Two cafés as we continue to build a business of ethical coffee brands with community spirit. Building on our position as the fourth largest coffee focused café chain in the UK (behind Starbucks, Costa and Caffè Nero), and the largest solely franchisor focused café chain in the UK and Ireland, we see considerable opportunities for further growth.
“Having emerged from the pandemic in a healthy position I believe Cooks Coffee brands are now poised for significant growth that will deliver value for our shareholders. I will provide further updates as we progress our planned dual listing on the Aquis Growth Market in London,” said Keith Jackson, Executive Chairman, Cooks Coffee Company.
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.
In August 2022, Cooks Coffee Company announced plans to dual list on the Aquis Growth Market in London. The business is already listed on the New Zealand Exchange (NZX).
World Coffee Portal UK data shows the UK branded coffee shop market achieved a £1.3bn ($1.48bn) sales rebound in 2021, with the total number of outlets now exceeding pre-pandemic levels to reach 9,540 stores.