CANADA – Aegis Brands, which owns Canadian specialty coffee retailer Second Cup Coffee, has completed its previously announced acquisition of Ottawa-based Bridgehead Coffee.
Bridgehead has nineteen company-owned coffeehouses in Ottawa, including its flagship Roastery, all of which will continue to operate under the Bridgehead name while its offices will remain in Ottawa.
According to press release by Aegis Brands, the business has been delivering strong financial results in a competitive coffee market with average unit volumes approaching US$1 million.
Aegis Brands expects this acquisition to be immediately accretive to the Company’s earnings.
“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.”
Following the acquisition, Kate Burnett has assumed executive leadership of Bridgehead as the new Chief Operating Officer.
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 Roastmaster, will continue in their roles, working closely with small-scale farmers to continue to deliver an exceptional coffee experience to Bridgehead customers.
This marks the company’s first acquisition since it announced its new operating structure and strategy in November 2019. As part of the transition, the company plans to adopt the name Aegis Brands from The Second Cup Ltd.
This is part of the of a plan to diversify beyond coffee shops. The company said it’s also seeking acquisitions in the foodservice, coffee and cannabis sectors.
If the shareholders vote in favour of the company changing its name to Aegis Brands, Steven Pelton, President and CEO of Second Cup, will assume the role of CEO of Aegis Brands.