The new combined network of stores would include 27 locations in B.C.<\/p>\n
Two B.C. coffee powerhouses are set to combine in a highly caffeinated business transaction.<\/p>\n
Publicly traded company Purebread Brands Inc. announced at the end of last week its official intent to buy\u00a0Caff\u00e8 Artigiano for $7.7 million, according to a press release.<\/p>\n
The newly combined business would include Purebread’s\u00a016 company-operated bakery and cafe\u00a0locations\u00a0together with Caff\u00e8 Artigiano’s 11-location franchise network, representing a total of 27 storefronts.<\/p>\n
Caff\u00e8 Artigiano has another seven locations in its development pipeline, according to the release.<\/p>\n
Purebread’s CEO Christian Bullock says his Vancouver-headquartered company will help support\u00a0Artigiano’s next stage of growth.<\/p>\n
“Caff\u00e8 Artigiano is one of the most recognized names in Canadian coffee. For more than 25 years, it has shaped Vancouver’s caf\u00e9 culture, and under Dean Shillington’s leadership, it has continued to set the standard with real care and conviction,” he says in the release.\u00a0“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.<\/p>\n
“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.<\/p>\n
In August, Purebread said it\u00a0was planning to expand to\u00a030 locations with\u00a0$75 million-plus in revenue within three\u00a0to five\u00a0years, and 100 locations with $250 million-plus in revenue within 10 years, “positioning Purebread as Canada’s first national premium artisan bakery brand.”<\/p>\n