Philadelphia, PA--(Marketwire - October 9, 2008) - Saxbys Coffee Worldwide, one of the fastest growing coffee companies in the country, today completed a private transaction to acquire the assets of Bucks County Coffee Co., including its 15 retail locations and a distribution channel to approximately 400 grocery outlets.
The purchase will bring the number of Saxbys Coffee shops to 65 by the end of 2008, jump starting its growth strategy and immediate plans to expand along the eastern seaboard.
"We look forward to introducing Bucks County Coffee customers to the Saxbys Coffee experience," said Nick Bayer, president and CEO of Saxbys. "The Saxbys brand is simply about a satisfying cup of coffee served in a refined, comfortable environment operated by a neighborhood business owner. We believe what makes Saxbys Coffee special is the roasting profile for our beans. Our coffee starts with the world's top 3% of Grade 'A' Arabica beans and a roasting process that yields a taste and finish that will be very appealing to not only Bucks County customers but coffee drinkers everywhere. Saxbys will soon become the daily cup of choice for those who crave fresh, rich and smooth coffee and fine specialty coffee beverages without pretensions."
Beginning mid-October, the Bucks County retail outlets will be converted to Saxbys Coffee shops starting with the site at 30th Street Station, Philadelphia. Saxbys has attracted new franchisees for the Bucks County Coffee locations creating new small business ownership opportunities throughout the Greater Philadelphia region.
"The Saxbys business model provides franchisees with the opportunity to share in a strong brand characterized by an excellent product line, a proven delivery system and comprehensive business and operations training that is the backbone of owner-operator success," said Bayer.
The Bucks County acquisition gives Saxbys a competitive presence that will help fuel strategic growth. Development plans are underway for 2009 with several additional shops slated for openings in Southeastern Pennsylvania, New Jersey, Delaware and Greater Washington, D.C., as well as Dallas, Texas, and Las Vegas, Nev.
"We are seeking franchisees to share in the Saxbys brand story while building value in their own businesses," Bayer said.
With free Wi-Fi service in all retail locations, Saxbys offers a relaxed, inviting atmosphere where customers will always find a selection of carefully crafted and consistent coffee and specialty drinks including single origin, signature blends, Fair Trade, organics and decaf coffees, gourmet espresso beverages, lattes, cappuccinos, Frolatte's®, loose leaf teas, and smoothies, Saxbys' signature cookies, sandwiches, pastries and more.
Saxbys was incorporated in 2005 in Atlanta, Ga., and moved its headquarters to Philadelphia, in 2007.
The executive management team includes principals and directors Joseph Grasso, chairman; Nick Bayer, President and CEO; Kevin Meakim, Principal; Brian Whittaker, Director of Franchise Development; and Bruce Waugh, Director of Operations.
For more information on Saxbys locations, products, employment and franchising opportunities, visit www.saxbyscoffee.com