Singapore-headquartered Global Yellow Pages (GYP) is to acquire 100 per cent of Australian coffee chain Gloria Jean’s Coffees.
GYP’s acquisition of Gloria Jean’s Coffees will provide significant funding and resources for its continued global expansion with a focus on Asia, especially China.
“We have been looking for some time for the right partner who shares our guiding values, our dedication to excellence and our vision for the future. As a result of months of discovery and ongoing consultation, we are confident that in GYP we have found the right partner to take the business to the next level,” said Nabi Saleh, executive chairman of Gloria Jean’s Coffees.
“We already have more than 800 coffee houses in 39 countries and are excited by the very real prospect of seeing Gloria Jean’s Coffees continue to grow internationally to become a truly global coffee house brand.”
Saleh will maintain a significant ongoing role in the Australian operations, and will assume the role of non-executive chairman of the newly formed GYP-owned holding company for the Gloria Jean’s Coffees business. He will retain interests in the master franchisee business of Australia, USA and China.
All Australian based supply chain and franchise operations will remain at Castle Hill. GYP and Gloria Jean’s executive management will work closely to ensure a continued smooth running of the business.
The transaction continues GYP’s diversification strategy of investing in the food and beverage sector in Asia. GYP is a multi-platform solutions company focusing on up-to-date search, SME enablement and database marketing. It is also the largest publisher of directories and provider of classified directory advertising and associated products and services in Singapore.
“The partnership is committed to the continued success of the local Australian business in addition to expanding further into Asia, including China. GYP shares Gloria Jean’s Coffees vision for the brand and its potential for further growth as a values-oriented socially responsible business delivering excellence in coffee and café culture,” said GYP non-executive chairman Mah Bow Tan.