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“Second Cup Coffee Co. sign – Credit to https://myfriendscoffee.com/” by John Beans is licensed under CC BY 2.0.
Ontario, Canada-based Aegis Brands is selling 45-year-old Canadian coffee retail giant Second Cup Coffee Co. for $14 million CAD (approximately $11 million USD) to Quebec-based restaurant franchising specialist Foodtastic.
It is the latest in a long series of ownership changes for the coffee business, which was founded in 1975 and now constitutes Canada’s third largest coffee-focused chain behind Tim Hortons and Starbucks. According to the latest quarterly report from Aegis, there are approximately 231 Second Cup locations throughout Canada, including 200 franchise locations and 31 company-owned-and-operated locations.