Cafe retail chain Cafe Coffee Day today said it has bought out Czech Republic-based Cafe Emporio in a deal worth Rs 15 crore, as it looks to increase its footprint in overseas markets.
Cafe Emporio operates a chain of 11 outlets in the Czech Republic. Cafe Emporio outlets will soon be co-branded as 'Cafe Coffee Day-Emporio' and will be gradually transformed to Cafe Coffee Day (CCD) outlets over a period of 18 months.
"We believe that large investments in the last 7-8 years in Central and Eastern Europe, together with the birth of a strong new private sector, have had a positive impact on making East European countries attractive emerging economies," CCD President (International Business) Swetha Shetty said.
Terming the Czech Republic and the former Communist-ruled countries of Central and Eastern Europe as major markets of the future, she said the company plans to undertaken more such deals in the region.
"Our strategy is to grow both organically and inorganically, with a larger weightage towards the latter. At the moment, we are exploring several acquisition options to increase our footprint in this region," Shetty said, without giving details.
CCD, which is a part of Bangalore-headquartered Amalgamated Bean Coffee Trading Company Ltd, posted a turnover of Rs 400 crore in FY'10. It currently operates around 923 cafes, including four in Austria and two in Pakistan.