CH&Co has announced it is taking full ownership of stylish high street café group Apostrophe. The multi-brand catering business, which already owns 50% of the leading coffee shop chain, says it is buying the remaining 50% stake in the business, which is currently held by Amir Chen and the founding shareholders.
This acquisition is a ‘key strategic step’ in building on the firm’s commitment to ‘match the best catering offers on the high street’ and take them into the areas where it already has a strong commercial proposition: namely the workplace; the visitor attraction; and into corporate entertainment.
Apostrophe opened its first outlet in Shoreditch, East London, in 2001. Since CH&Co bought it’s first 50% stake in the firm, the venture has opened at five new sites, and today Apostrophe operates from 23 locations in central London, Heathrow and Gatwick. Award winning coffee and hot chocolate has helped Apostrophe to gain a loyal following and the brand enjoys strong ties to leading cultural institutions such as Whitechapel Gallery and the National Theatre.
Tim Jones, chairman of CH&Co, said:
“As I forecast two years’ ago this joint venture has offered new horizons for CH&Co commercially and wider choice for our clients, and now it is time for us to take the next step.
“Let me offer sincere thanks to Apostrophe’s Amir Chen for building the strong and much loved brand that it is today – and now for passing it onto us,” he added.
Chen has committed to stay with Apostrophe for ‘as long as it takes’ to ensure a smooth transition of ownership. He commented:
“I am so proud of what we have achieved and I look forward to seeing CH&Co build Apostrophe further. I am sure they will help it grow into new markets, which were previously inaccessible to Apostrophe alone.”