You may have heard some rumours, we’re confirming that Cooks Global Foods has entered into a conditional agreement to buy Mojo.
What does this mean? Well, it’s only good things.
As a customer of Mojo you can expect to get the same great coffee, made by the same great people and the same great Mojo experience.
We know we already do a pretty great job, and that’s a big reason why Cooks wants us.
Cooks is a Kiwi company that owns the franchising rights to Esquires worldwide excluding New Zealand and Australia. It currently operates in Canada, the UK, Ireland, Bahrain, Kuwait, Saudi Arabia, UAE, Indonesia, Portugal, Romania, Pakistan, Jordan, and China. It also owns Scarborough Fair tea, and Grounded Coffee. We think we’re going to learn a lot from a company that’s got that sort of international experience and knowledge.
What this means for us is we’ll get a cash injection to help us grow overseas. We’ve been wanting to do that for a long time – our founder, Steve, has been in the Chicago store gearing up for this moment, and we’ve had our Japanese and Chinese cafes going strong for a wee while now.
We know you care about the people who serve you in our Mojo cafes, and we wanted to assure you they’ll be sweet. We’re not restructuring anyone out of a job. In fact this is going to present a number of our staff with some cool opportunities to go and work in one of Cooks’ cafes around the world – there’ll be 142 of them with Mojo added to their team. Giving Cooks a New Zealand café presence was a big attraction for them in deciding to make the purchase – especially one that has a great reputation for being excellent.
Under the terms of the sale we will retain our brand and organisation with Steve Gianoutsos and executives Katy Ellis and John Holloway joining Cooks’ senior management team while continuing to run the Mojo business.
Cooks is a listed company, currently on the NZX alternative market, but with this acquisition they intend to move on to the NZX main board.
So in short, not much will noticeably change for you. You can come on in and order the same great coffee you love from the same great people. We just wanted to let you know.