Coffeeheaven joins forces with Costa to further its dynamic development

Coffeeheaven, the first and oldest coffee shop chain to trade on the Polish market with 63 coffee shops in 12 major Polish cities, came under the ownership of international company Costa Limited in the first quarter of 2010. With over 1,000 coffee shops in Great Britain and 500 coffee bars in 25 countries overseas, Costa is the strongest and best recognized coffee shop chain brand in the UK, outdistancing their competitors in both high standards of service and coffee quality. Costa Ltd is a 100% subsidiary company of Whitbread PLC, the largest British company operating in the hotel and restaurant sector. The take-over was recommended by coffeeheaven's Board of Directors, and was approved by over 90 per cent of its shareholders, including the company's employees. Recognizing Coffeeheaven's achievements to date, and their unquestionable position as the industry leader on the Polish market, the new management has decided to retain coffeeheaven's individual brand in its up-to-date format, and not to re-brand it as Costa Coffee.

On the day of the take-over, John Derkach, Managing Director of Costa Coffee said: "It is our aim to retain what is the best in coffeeheaven and to add what is the best in the Costa network. By acquiring high-level coffeeheaven coffee bars, Costa is going to ensure benefits both to its shareholders and to the Costa brand, as well as consolidating its standing in the rapidly-growing Central and Eastern European markets. It will also lead to an opportunity to acquire new locations. By the same token, coffeeheaven is going to gain access to the resources of a renowned international company and thus enjoy even better prospects for its further development." One of the benefits of the partnership is that coffeeheaven will shortly enjoy the fruits of Costa's London-based laboratory and superbly-equipped coffee roaster, which will prepare a bespoke coffee blend especially for coffeeheaven.

Marcin Mądry, Commercial and Financial Director of the coffeeheaven group, adds: "By joining the international Costa, coffeeheaven sees a range of new opportunities opening up. One of the main benefits is access to new sources of finance, but there is also the benefit of better negotiating power in dealing with suppliers as well as mutual access to expertise and know-how that has accumulated in both organisations. From the financial point of view, the withdrawal of coffeeheaven shares from quotations on the AIM market has already shown considerable savings. These and other factors are certainly going to translate into new opportunities for coffeeheaven to develop more dynamically and effectively than the company could do on its own". The combining of both companies' capital, know-how and experience will enable them to build a strong prestigious brand on the coffee market. The partnership will also allow them to act more effectively to achieve their common priorities of serving coffee prepared by the traditional espresso method in line with the world's top standards, satisfying customers, and the smooth growth of the company and its personnel.

Source:      Costa Limited