Taylor St and Black Sheep is the latest M&A deal for the coffee sector
The latest M&A deal in the sector saw Black Sheep purchase the leases and operating licences for the eight London sites of Taylor St Baristas.
Black Sheep won the acquisition after a competitive process.
This is the latest consolidation in the coffee sector. The Allegra World Coffee Portal’s Project Café UK 2019 report published earlier this year said that the UK coffee shop market had already experienced significant consolidation. It said that major deals such as Coca-Cola’s £3.9bn acquisition of Costa Coffee, and JAB Holding’s £1.5bn acquisition of Pret A Manger introduced unprecedented foreign investment into the UK branded coffee chain market.
Last year, Taylor St Baristas, joined forces with French foodservice giant Sodexo to roll out a ‘turn key’ speciality coffee solution globally with Chapter & Verse, a new speciality coffee brand developed by Sodexo and Taylor St. Taylor St Coffee said it would continue to serve its wholesale partners, including the Sodexo partnership.
In October, founder Nick Tolley told Beverage Business World, that it was planning expansion up and down the East Coast of the US and the Benelux region.
Taylor St, was established in 2006 by the siblings Nick Tolley, Andrew Tolley and Laura Tolley.
The siblings founded the Harris + Hoole coffee chain, which they sold to Tesco in 2016 and is now owned by Caffe Nero.
The news follows Black Sheep Coffee’s recent funding injection of £13M from private investors, bringing its total valuation pre-acquisition to £110M.
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