Business
Aegis Brands Completes Acquisition of Ottawa's Bridgehead Coffee
Aegis Brands Completes Acquisition of Ottawa's Bridgehead Coffee Canada NewsWire ...
About this update from Aegis Brands Inc
[{"type":"text","content":"\n\n\n\nAegis Brands Completes Acquisition of Ottawa's Bridgehead Coffee\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Jan. 9, 2020\n\n\n\n$9.5 million acquisition is the first under Aegis' new strategy; Bridgehead will continue to operate as an independent brand\n MISSISSAUGA, ON, Jan. 9, 2020 /CNW/ - The Second Cup Ltd. (\"Aegis Brands\" or the \"Company\") (TSX: SCU) today announced that it has completed its previously-announced acquisition of Ottawa-based Bridgehead Coffee.  This marks the Company's first acquisition since it announced its new operating structure and strategy in November 2019. Aegis Brands also owns Canadian specialty coffee retailer Second Cup Coffee Co.\nBridgehead has nineteen company-owned coffeehouses in Ottawa, including its flagship Roastery, all of which will continue to operate under the Bridgehead name. All Bridgehead coffeehouses serve baked goods and fresh foods made daily in the company's Kitchen and Bakery, using local and seasonal ingredients. The business has been delivering strong financial results in a competitive coffee market with average unit volumes approaching $1 million. The Company expects this acquisition to be immediately accretive to the Company's earnings.  \n\"We are delighted to welcome Bridgehead into the Aegis portfolio of brands as our first acquisition,\" said Steven Pelton, CEO of Aegis Brands. \"Bridgehead has forged a unique culture and identity in the Ottawa region that resonates with both customers and employees, and is poised for growth. As well, we expect that Bridgehead's best practices will benefit our Second Cup brand over time. We look forward to working with Bridgehead's team to help fuel that growth in the months and years to come.\" \nKate Burnett has assumed executive leadership of Bridgehead as COO while Tracey Clark, Bridgehead's President and CEO since 2000, will lead the preservation of Bridgehead's values in her new role as Chief Culture Officer. Ian Clark, Director of Coffee, and Cliff Hansen, Bridgehead's Roas...