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Tag: The Coffee Bean & Tea Leaf

  • SMI signs deal to develop The Coffee Bean in Myanmar

    SMI signs deal to develop The Coffee Bean in Myanmar

    Singapore Myanmar Investco (SMI) has signed an international area development agreement to develop The Coffee Bean & Tea Leaf (CBTL) cafe chain in Myanmar.

    Founded by Herbert Hyman in 1963, the chain is owned and run by International Coffee & Tea, which has its corporate headquarters in Los Angeles. It has more than 1000 self-owned and franchised stores in the US and 31 other countries.

    SMI secured the franchise rights two years ago to run CBTL outlets within the new Yangon International Airport. Following encouraging results from the two airport cafes, the new deal folds the CBTL brand into the group’s growing F&B brand portfolio, which includes Crystal Jade and Ippudo.

    Under the exclusive agreement, SMI is committed to expand CBTL across Myanmar, with the first outlet planned to open within the next month.

    “Aligned with the growing consumer market in Myanmar, our local market knowledge and experience gives us confidence as we further entrench our F&B business presence in this frontier market,” says SMI president/CEO Mark Bedingham.

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  • New Coffee Bean Asia chief

    New Coffee Bean Asia chief

    The Coffee Bean & Tea Leaf  has named Andrew Nathan as senior VP for Asia Pacific.

    In what is a newly created role, Nathan will be the primary driver of the company’s growth opportunities in Asia, including responsibility for company operations in Singapore and Malaysia. He takes over duties of Victor Sassoon, co-owner and CEO of Coffee Bean & Tea Leaf Asia Pacific, who remains on the company’s board.

    Based in Singapore, Nathan will report to John Dawson, president and CEO.

    Nathan has nearly 20 years of experience in the specialty coffee business and with leading and growing brands in Asia. He began his international career working with the US Peace Corps and the American Red Cross and has held regional franchise and corporate market leadership positions for such global brands as Starbucks Coffee and Domino’s Pizza.

    The Coffee Bean-Andrew Nathan

     

    During his tenure as owner and CEO of Coffee Bean & Tea Leaf Asia Pacific, Victor Sassoon opened more than 100 stores in Singapore and Malaysia and oversaw franchise expansion to 550 stores in over 25 countries spanning Asia and the Middle East.

    In September 2013, Advent International, CDIB Capital and Mirae Asset Private Equity joined forces to acquire an equity stake in the business. Together with the Sassoon family, who remain substantial shareholders, they are working to accelerate the brand’s growth and international expansion.

    “We’ve worked very hard over nearly 20 years to grow and nurture this great brand,” said Victor Sassoon. “It’s been highly rewarding and I value the relationships I’ve developed with our franchisees, developers and team members during my tenure as CEO of Asia Pacific. I look forward to my continued involvement as a board member and have full confidence in Andrew as he takes on the leadership role in Asia Pacific.”

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