The leisure arm of Cypriot hospitality conglomerate Lanitis Group has purchased Gloria Jean’s 11 stores on the island for an undisclosed sum
The acquisition marks the end of C.C. Coffee Company’s 16-year ownership of Gloria Jean's in Cyprus | Photo credit:
Gloria Jean’s Coffee franchise in Cyprus has been sold to Lanitis Entertainment.
The acquisition represents the end of C.C. Coffee Company’s 16-year ownership of the coffee chain franchise in Cyprus, where there are currently 11 stores.
Gloria Jean’s Coffee is headquartered in Sydney, Australia. The chain is operated by multinational fast casual restaurant conglomerate Retail Food Group and has more than 1,000 stores in 40 countries, including over 460 in Australia.
The first Gloria Jean's outlet in Cyprus opened in 2007. The coffee chain is currently the tenth largest in the country by outlets. The Lanitis Entertainment acquisition also includes C.C Coffee Company’s four Cremoso Gelato Artigianale ice cream stores.
World Coffee Portal research forecasts the Cypriot branded coffee shop market will reach 477 outlets by 2027. The Cypriot branded coffee shop market is led by Greece’s Coffee Island, which operates 43 outlets across the country.
Lanitis Entertainment operates the Café Calma and Ciao Napoli Pizzeria F&B brands as well as the Cypriot event venue Carob Mill Restaurants and the Fasouri Watermania Waterpark.