Costa Enters the Russian Coffee Market
Whitbread and OJSC Rosinter Restaurants Holding "Rosinter"
(RTS:ROST) have today announced they will launch the Costa Coffee shop
chain in Russia via a Joint Venture.
Rosinter is the leading casual dining restaurant chain in Russia
and CIS, operating 216 restaurants in 8 countries and 24 cities.
The new agreement between Whitbread and Rosinter will see over 200
Costa stores opening in the next five years, concentrating on Moscow
and Saint Petersburg in its first year, and then expanding to other
Russian regions thereafter. The partners also intend to open Costa
stores in Ukraine and Belarus at a later date.
The first Costa flagship store will open in Pushkin Square in
Moscow in early 2008. In addition, it is intended that some coffee
shops currently operated by Rosinter under its proprietary brand Moka
Loka will be acquired by the Joint Venture and converted to the Costa
brand.
This new, strategic, business alliance will combine the experience
and resources of both partners - the ideal combination of global and
local expertise and knowledge - to achieve a fast and successful
development of the Costa brand in Russia.
John Derkach, Managing Director, Costa Ltd said: "Costa has become
a part of daily life for millions of customers worldwide with a
presence in 20 countries, and this new agreement with Rosinter clearly
demonstrates our ongoing ambition to be a global coffee brand. We are
delighted to partner with Rosinter, a very successful restaurant
company and an ideal associate with whom to develop the Costa brand in
Russia, and to partner with the great entrepreneur Rostislav
Ordovsky-Tanaevsky Blanco."
Rosinter´s Founder and Chairman of the Board Rostislav
Ordovsky-Tanaevsky Blanco added: "The sustained rise in disposable
income in Russia has brought about an increase in the frequency of
visits to restaurants and coffee shops. Coffee shops have become
popular across all segments of the population and a growing percentage
of consumers are discerning about the quality of the coffee, the food
and the service being provided. We are delighted about this timely
partnership with Costa Coffee and I am sure that together we will set
new standards of quality for Russian consumers".
Overall Costa now operates 923 stores with 268 in 20 overseas
markets. In the UK Costa is the largest and fastest growing coffee
shop chain with 655 stores.
About Costa:
Costa is part of the Whitbread family of brands. Italian brothers
Sergio and Bruno Costa founded costa in 1971. Costa´s in-store
baristas are all coached in the art of coffee making at the company´s
unique Costa Coffee Academy based at its own roastery in Lambeth,
London.
Costa has won the award for Best International Franchise Operator
2007. Costa has been voted as one of the strongest UK brands by
experts and consumers and has been awarded ´Superbrand´ status.
Costa set up a registered charity (no.327489) in 2006 called ´The
Costa Foundation´ to give something back to the communities within the
countries from which Costa sources its coffee beans.
About Whitbread:
Whitbread PLC is the UK´s leading hospitality company, managing
market leading businesses in the budget hotels and restaurant sectors,
including Premier Inn, Brewers Fayre, Beefeater and Costa Coffee.
Whitbread´s strategy is to create value for its shareholders by
focusing investment and growth in expanding sectors of the hospitality
industry, primarily in the UK but also in selected overseas markets.
In the financial year to March 1, 2007, Whitbread generated pre-tax,
pre-exceptional profit of GBP 213.0m. Founded in 1742, the company is
listed on the London Stock Exchange (as WTB.L) and is a member of the
FTSE4Good indices.
About Rosinter:
OJSC Rosinter Restaurants Holding is the leading casual dining
restaurant company in Russia and the CIS, which currently (December
11, 2007) operates 216 outlets, including 45 franchised restaurants.
In 2006 it served approximately 12.5 million customers in Russia, the
CIS and Central Europe, including Baltic countries. The Company offers
Italian, Japanese, American and Russian cuisine under its proprietary
brands IL Patio, Planet Sushi and 1-2-3 Cafe and its licensed brands
T.G.I. Friday´s and Sibirskaya Corona. Following the opening of its
first restaurant in Moscow in 1990, the Company operates in 24 cities
in Russia, the CIS and Central Europe, including Baltic countries.
Rosinter reported consolidated revenues of US$ 218.6 million, in
accordance with audited IFRS accounts, for the twelve months ended
December 31, 2006. Rosinter Restaurants Holding is listed in RTS
(www.rts.ru) under the stock ticker ROST.
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subject to change without notice.