Coffee Beanery Europe
Laser invests in Coffee Beanery Europe
Coffee Beanery was established in 1976 by the Shaw Family. The company has a reputation for specializing in quality iced and hot coffee beverages. Only 5% of the coffee beans grown throughout the world are deemed suitable for use in Coffee Beanery products, a testament to the outstanding quality of CB coffee. The company is among the largest of its kind in the world with 300 shops in the U.S. and a presence in China and the Middle East.
Coffee Beanery Europe was established in 2003 for the purpose of creating and developing the coffee shop chain in Cyprus. In June 2007, Laser Investments, a company managed by Lambros Christofi, announced the acquisition of Coffee Beanery Europe for a consideration of £1.700.000CYP(approximately €3,000,000).
CBE opened its first store in Cyprus in late 2007 followed by another store in 2008. In this intermediate period, the management structure required to expand Coffee Beanery in Cyprus and Europe was put into place.
In 2008 the rights to 24 EU countries were purchased. The rights to the UK, Ireland, Greece, Czech Republic, Slovakia, Hungary and Poland have been sold bringing revenues of €9.5 million to the company.