Listed Agrinurture, Inc. is opening a chain of Tully’s Coffee shops as yet another part of its farm-to-plate business model.
Tully’s Coffee is owned by Green Mountain Coffee Roasters Inc., a leader in specialty coffee and coffee makers, which has led the growth in the emerging and fast-growing single-serve coffee market in the United States.
There are speculations in the US market that coffee retailing giant Starbucks Coffee Co. may acquire or partner with Green Mountain to access the single-serve coffee market. However, Starbucks has not confirmed such reports and has announced in a statement posted on its website that it was expanding its single-serve business through a tie-up with Courtesy Products, the leading provider of in-room coffee service to hotels in the United States.
ANI president and CEO Tony L. Tiu said in a phone interview that the company was already scouting for prospective store locations.
CIO Kenneth S. Tan earlier said in a disclosure to the Philippine Stock Exchange that ANI’s board of directors approved the proposal to enter into a master license agreement with Tully’s Coffee International Pte Ltd., a Singaporean corporation.
The Singaporean firm is the franchising subsidiary of Seattle-based Tully's Coffee.
Tully’s Coffee is a popular brand even in Asia, said Tiu.
He said the opening of Tully’s Coffee shops in the Philippines would help boost the Philippine coffee industry.
We can sell to them our coffee. Of course there may be varieties that we have to import but we will always push for as much local products as possible, Tiu said.
Tiu said it was possible that the first Tully’s Coffee shop in the Philippines would open by June.
We are now looking for possible locations. We are organizing the supply chain,? he said.
The franchise project will be funded by private equity.
We will tap private equity as needed, Tiu said, declining to disclose further details.
ANI has ventured into the restaurant industry before, opening The Orchidarium Restaurant in Rizal Park last year.