The new combined network of stores would include 27 locations in B.C.
Two B.C. coffee powerhouses are set to combine in a highly caffeinated business transaction.
Publicly traded company Purebread Brands Inc. announced at the end of last week its official intent to buy Caffè Artigiano for $7.7 million, according to a press release.
The newly combined business would include Purebread’s 16 company-operated bakery and cafe locations together with Caffè Artigiano’s 11-location franchise network, representing a total of 27 storefronts.
Caffè Artigiano has another seven locations in its development pipeline, according to the release.
Purebread’s CEO Christian Bullock says his Vancouver-headquartered company will help support Artigiano’s next stage of growth.
“Caffè Artigiano is one of the most recognized names in Canadian coffee. For more than 25 years, it has shaped Vancouver’s café culture, and under Dean Shillington’s leadership, it has continued to set the standard with real care and conviction,” he says in the release. “Artigiano is a natural fit for our family of brands, sharing the same commitment to craft, quality and community that has guided Purebread from day one.
“Bringing these businesses together gives us immediate scale, a 27-location operating and franchise network and a strong pipeline for continued growth. We believe the combination gives both brands the talent, infrastructure and reach to enter new communities without losing what made people fall in love with them in the first place,” Bullock continues in the release.
In August, Purebread said it was planning to expand to 30 locations with $75 million-plus in revenue within three to five years, and 100 locations with $250 million-plus in revenue within 10 years, “positioning Purebread as Canada’s first national premium artisan bakery brand.”
In September, Artigiano closed its location at 4010 Main St.