Cafe Coffee Day (CCD) has announced that is has bought out, Café Emporio, a Czech Republic café chain, for Rs 15 crore. This is the first acquisition for the company. The café chain has 11 cafes in the Czech Republic, seven of them are in Prague and one each in Brno and Olomouc and two at Freeport-Hate.
The acquisition implies that Café Coffee Day is willing to increase its international presence, especially in the central & eastern European region, said Swetha Shetty, president, international business for Café Coffee Day.
Witnessing the big investments in the past seven to eight years in Central and Eastern Europe, besides the coming up of a strong new private sector, the company feels that the regions have strong emerging economies.
CCD is exploring several acquisition options to increase its footprint in the region. Café Emporio cafes will be co-branded and soon be named as ‘Café Coffee Day-Emporio.