Whitbread buys Coffee Nation for £59.5m

first_img Whitbread buys Coffee Nation for £59.5m Tags: NULL John Dunne Britain’s biggest hotel and coffee shop operator Whitbread it had agreed to acquire self serve coffee bar chain Coffee Nation for £59.5m.Whitbread, which owns Costa Coffee, said the acquisition would enable it to develop a new brand, Costa Express. It is targeting having 3,000 self serve coffee bars across Britain over the next five years. Coffee Nation already has 900 units.The group, which also operates the Premier Inn chain, also said total sales grew 12.4 per cent in the 11 weeks to 17 February.“Our like for like sales are good especially in a challenging economic environment and against tougher comparatives,” chief executive Andy Harrison said.Whitbread, which runs nearly 600 hotels and close to 1,200 coffee shops in Britain, said it anticipated its full year results would be in line with market expectations.The group has cut room prices at Premier Inn to as little as £29 a night, to woo leisure and business travellers trading down from 4 and 5 star hotels.Whitbread has been a consistently strong performer throughout the economic downturn because of the value-for-money focus of Premier Inn and Costa Coffee being viewed as affordable luxury by consumers. Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap Wednesday 2 March 2011 3:05 am Show Comments ▼ whatsapp whatsapplast_img

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