Arab Investments, a private property company best known for plans to build a London skyscraper, has completed the acquisition of Coffee Republic, the coffee shop chain, from administration.
The company, which is planning to build one of the tallest buildings in London at the Pinnacle in the City of London, will today confirm the acquisition for an undisclosed amount. Administrator KPMG has been in talks to sell the business to Arab Investments for two weeks.
Arab Investments said that it would commit 'substantial capital' into developing the Coffee Republic brand, and will embark on further expansion of the branch network. Coffee Republic operates 80 outlets, of which 20 are outside the UK, including Bulgaria and Saudi Arabia.