Cooks Global Foods (NZX:CGF) is an integrated food and beverage retail and supply group founded on globally leveraging New Zealand's reputation for fresh and quality foods.
CGF owns the intellectual property and master franchising rights to Esquires Coffee Houses worldwide - excluding Canada, New Zealand and Australia. The company also owns a number of retail and wholesale companies in related industries.
In the UK and Ireland, CGF owns the Esquires Coffee Houses brand and system where it also directly franchises stores. In the Middle East and China stores are franchised through master franchise holders.
Cooks Global Foods focuses on three fundamental business elements:
- Ownership of the international retail footprint under the established Esquires Coffee Houses brand principally utilising a franchise model.
- Acquisition of supply businesses in the food and beverage sectors to develop a self-managed and efficient distribution chain.
- Growth of the retail and supply sides of the group through a combination of organic growth, further acquisitions and the appointment of Master Franchises in new markets.
Progressive Processors Ltd
CGF acquired Progressive Processors Ltd in October 2013. Progressive Processors is based near Whakatane and grows, supplies, processes and adds value to a number of fresh fruits and vegetables including asparagus and kiwifruit. It supplies product domestically and also to export markets, particularly Japan.
Scarborough Fair was acquired in October 2013 and is a wholesaler of Organic and Fairtrade teas, coffees and chocolates. There are many synergies with the Scarborough Fair product range and the products sold through the Esquires Coffee Houses internationally.
Dairyland Products Ltd. CGF holds 42 per cent of Dairyland Products Limited, a company formed to undertake investments in the dairy industry. The company owns the factory site in Tokoroa and holds both building and resource consents to enable the establishment of a Whole Milk Powder factory on the site.
This information was extracted from the full year report provided by Cooks Food Group Limited released on 15 June 2015:
Cooks Global Foods Limited today reports continued progress on the global roll out of its Esquires Coffee Houses and a solid performance from its Scarborough Fair and Progressive Processors businesses. In addition to the opening of 14 new Esquires stores during the year, the company acquired the rights to the Esquires intellectual property in Canada from the original Esquires franchisor founded in 1993, and signed master franchise agreements with commitments to open new stores in a number of new jurisdictions including Indonesia and Cyprus.
Cooks has also strengthened its presence in China through the acquisition of the master franchise for the country and the vendor ? Yunnan Metropolitan Investment Company (YMCI) ? taking a 15.75% shareholding in Cooks. Via its master franchisee Beijing Esquires Management Co., Cooks also agreed joint ventures to roll out stores in the Shandong and Hunan provinces with major local companies who are involved in supermarkets and ownership of shopping malls in their respective provinces.
The company recorded an unaudited operating loss of $3.7 million for the year ended 31 March 2015, compared with a restated operating loss of $3.9 million for the year ended 31 March 20141. After amortisation of intangible assets and finance costs, the loss after income tax attributable to shareholders was $4.0 million for the 2015 financial year, compared to a restated loss of $5.1 million for the prior year.
Commenting on the result, Cooks Food Group Chairman Keith Jackson said: "Cooks is a company in a growth phase. Through Esquires, we are on a pathway to becoming the number one global Fairtrade and Organic coffee retailer. The significant perational milestones in the 2015 year have produced the results we anticipated. We expanded our footprint in the jurisdictions in which we operate and we successfully negotiated new territories".
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