Second Cup chairman to buy firm from Cara

“[Mr. Tsampalieros] sees the future and he sees it slightly differently than Cara,” said Second Cup president Bruce Elliott.

The Glboe and Mail
June 14, 2006

Second Cup chairman to buy firm from Cara
Andy Hoffman

The chairman of specialty coffee chain Second Cup Ltd. is buying the company from Cara Operations Ltd. Gabriel Tsampalieros, who is also a former Cara chief executive officer, will purchase all the shares of Canada’s second largest specialty coffee retailer, which has 360 franchises across the country. Financial details were not disclosed. Mr. Tsampalieros will also buy all of Second Cup’s international trademarks held by Cara. Units of Second Cup Royalty Income Fund, which derives royalties from franchises, are not included in the transaction. “[Mr. Tsampalieros] sees the future and he sees it slightly differently than Cara,” said Second Cup president Bruce Elliott. This is the second deal in a week for privately-held Cara, whose restaurant brands include Harvey’s and Swiss Chalet. It recently sold its Air Terminal Restaurant division for $62-million. SCU-UN (TSX) units fell 35 cents to $10.60.


Brought to you by WikiFranchise.org

Risks: Mergers and acquisitions, Canada, 20060614 Second Cup

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License