Aussie franchisor buys Esquires

Retail Food Group is spending about A$9 million ($11.9 million) to acquire Esquires Coffee Houses from the Deeks family. Photo / NZ Herald

An Australian food franchisor has agreed to buy the Australasian rights to the Esquires Coffee Houses chain from an Auckland family. The Gold Coast-based Retail Food Group is spending about A$9 million ($11.9 million) to acquire Esquires Coffee Houses from the Deeks family. Stuart Deeks said the deal was yet to be completed. RFG financed the purchase through cash reserves, although some shares would be issued to the Deeks, who operate 46 Esquires cafes in New Zealand and more than 60 worldwide.