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Money Bridgehead coffeehouse chain sold for $9.5M

08:05  06 december  2019
08:05  06 december  2019 Source:   cbc.ca

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The Ottawa-based Bridgehead coffeehouse chain has been bought by Aegis Brands, the parent company of Second Cup Coffee Co., for $ 9 . 5 million. Bridgehead locations will continue to operate under the Bridgehead name, and its head office will remain in Ottawa, according to a joint statement

Our Coffeehouses . Welcome to Bridgehead - your neighbourhood hub, your creativity incubator, your motivation to leave the 130 Anderson St. (at Preston St.) Ottawa, ON K1R 6T7 Ph 613.233.1221 Coffeehouse Hours Monday to Friday: 6:00 a. m . to 8:00 p. m . Saturday and Sunday: 6:30 a. m . to 6

a person walking down a sidewalk in front of a store: A man walks past the Bridgehead at Sparks and Metcalfe streets in Ottawa on Dec. 4, 2019. The local coffee chain has announced it's been purchased by the parent company of Second Cup.© Provided by cbc.ca A man walks past the Bridgehead at Sparks and Metcalfe streets in Ottawa on Dec. 4, 2019. The local coffee chain has announced it's been purchased by the parent company of Second Cup. The Ottawa-based Bridgehead coffeehouse chain has been bought by Aegis Brands, the parent company of Second Cup Coffee Co., for $9.5 million.

Bridgehead locations will continue to operate under the Bridgehead name, and its head office will remain in Ottawa, according to a joint statement released Thursday morning.

Last month, Toronto-area Second Cup Coffee Co. changed its corporate name to Aegis Brands as part of a plan to diversify beyond coffee shops.

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Bridgehead offers a variety of career and employment positions in our Coffeehouses , our Kitchen, our Warehouse, and at our Roastery. Bridgehead welcomes and encourages applications from people with disabilities - we invite diversity in our applicants and strive to remove barriers in our hiring process!

Ottawa’s “biggest little coffee company,” Bridgehead has been sold to the owners of the Second Cup coffee chain in a deal worth $ 9 . 5 million. Bridgehead has 19 coffeehouses in the capital, including its landmark Roastery on Anderson Street near Preston.

Aegis will help Bridgehead "expand its footprint without needing to change who they are or what they do best," the statement reads.

'Appropriate time' to sell

Tracey Clark, Bridgehead's current president and CEO, told CBC in an interview the sale has been in the works for the past 18 months.

"I think it's exciting," Clark said. "They're a Canadian company with a long history, and we're a Canadian company with a long history, too."

Clark bought Bridgehead in 1999 and opened its flagship café at 362 Richmond Rd. in Westboro the following year. The chain now has 19 locations in the city, she said, and employs 325 people.

"In the very beginning, I always had a goal for Bridgehead that we would be local wherever we were, but that we wanted to be able to expand outside of Ottawa," Clark said.

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Second Cup buying Ottawa café chain Bridgehead Coffee for $ 9 . 5 -million. The Second Cup Ltd. says it has agreed to buy Ottawa-based Bridgehead Coffee in a $ 9 . 5 -million deal. It says the acquisition is the first since it announced last month a new operating structure and strategy under the

We have coffee gear for your coffee lover. Aeropress, chemex, mugs and exceptional coffee . Everything you need to make a sweet brew at home. Phone: 1.613.231.5488 / 1.800.565.8563 Email: inquire@ bridgehead .ca Monday - Friday, 9 :00 a. m . - 5:00 p. m .

"It's an appropriate time, and it's an appropriate opportunity. So we're ready."

Brand to maintain 'autonomy'

"I guess the thing that I really like about this is I feel very reassured that we will be able to grow according to our brand values, and that we will be able to operate with autonomy and independence," Clark said.

As part of the deal, Clark will continue to lead the Bridgehead brand as the company's "chief culture officer."

Of the $9.5-million purchase price, Aegis will pay $6 million in cash and the rest in Second Cup shares, according to the statement.

Bridgehead began in 1981, when two United Church ministers and two activists worked to bring fairly traded coffee from Nicaragua to Canada.

According to its website, Bridgehead roasts about 2,700 kilograms of fairly traded organic coffee every week, all done in-house.

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