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Article: Timothy's Acquires Grabbajabba.(Timothy's Coffees of the World)(Brief Article)
- Article from:
- Tea & Coffee Trade Journal
- Article date:
- January 20, 2001
CopyrightCOPYRIGHT 2001 Lockwood Trade Journal Co., Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, CANADA -- Comac Food Group Inc. has sold its Grabbajabba coffee operations to Toronto-based Timothy's Coffees of the World Inc. for $1.35 million, reports the Toronto Star.
Grabbajabba is a chain of 56 gourmet coffee stores, located mainly in Western Canada.
Timothy's, a private Toronto company, operates 100 gourmet coffee stores throughout Ontario, Quebec and New York City.
The Comac Group says it sold the Grabbajabba chain because it believes the company can generate higher returns on its capital by expanding the Domino's pizza business, in which it will reinvest the money it gains from the sale.
"Selling Grabbajabba is just ...