Coffee chains have become ubiquitous in our town centres, helping to alleviate property vacancy rates and boost high street growth. Their popularity ensures that the acquisition of smaller chains has become a prime target for many retail and hospitality firms.
Recently Tesco acquired a stake in Harris + Hoole and now catering group CH&Co has snapped up London based brand Apostrophe. At present, Apostrophe operates 23 outlets throughout the capital, including two in Gatwick and Heathrow airports, but with the new deal there is a possibility that the chain will expand and perhaps even spread to locations outside the south east.
The concept of Apostrophe is loosely based around a similar concept seen in Pret a Manger, as both attempt to emulate the Parisian café culture in a British setting. Named after a French television show that hosts discussions on literature and the arts, the aim of Apostrophe is to reflect the sophistication and culture which plays a central role of the lives of consumers in Paris.
Apostrophe’s success up to this point is largely due to former Lehman Brothers banker Amir Chen, who provided a £1 million investment to the founder of the business and his personal friend. In turn, he became the managing director and was able to largely control the finances of the business, allowing sales to rise and expansion to take place; thus turning the chain into a business which manages to break even amidst tough competition from rival brands.
CH&Co first became involved in the business during 2012, when it acquired a 50 per cent stake after working with Apostrophe at its kiosk at the Tower of London. Although it has not yet been revealed exactly how much CH&Co paid to gain control of the brand, further details are expected to be forthcoming after the firm cements a future plan for growth at Apostrophe.
Chairman of CH&Co, Tim Jones, spoke of his excitement about the future of Apostrophe in a statement to the press.
He said; “Industry clients, visitors to world-famous attractions and even private guests attending events at historic venues all want the best when dining with us.
“Apostrophe helps meet this need and we look forward to developing it further – it also serves sensational coffee!”
CH&Co has become one of the most prominent firms in the UK, with a 26 per cent rise in revenues to £97 million in the last financial year fuelling hopes that this year will see it break the £100 million turnover milestone. At present, it is operational in over 200 British attractions including SONY UK, ZSL London Zoo and Hampton Court Palace.
Hopefully, CH&Co’s plethora of locations will allow a small start-up coffee chain to become a huge success in future, with the way now paved for Apostrophe to expand and take advantage of the UK’s growing tourism market.
