Cooks reaches conditional agreement to acquire Mojo Coffee
Cooks Global Foods (NZAX.CGF) is pleased to announce it has today entered into a conditional agreement to acquire 100% of the shares in Mojo Coffee Cartel (Mojo) in a transaction that values the business at $19 million (subject to adjustments for net debt and movements in working capital), to be paid through a combination of cash and shares.
Cooks Executive Chairman Keith Jackson says the Mojo acquisition will be transformational.
“Mojo is a well-established, popular, profitable business with a highly-successful brand with a network of 36 cafes in Wellington and Auckland. It has the potential to boost our international growth ambitions, particularly in the US, where it has already established a strong presence in Chicago with increasing customer awareness and American’s developing taste for good coffee,” Mr Jackson said.