• About Us
  • Advertise with Us
  • Contact Us
  • Offers
  • Events
  • Newsletter
  • Podcasts
  • Digital Magazine
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
  • About Us
  • Advertise with Us
  • Contact Us
  • Offers
  • Events
  • Newsletter
  • Podcasts
  • Digital Magazine
NZBusiness Magazine

Type and hit Enter to search

Linkedin Facebook Instagram Youtube
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
NZBusiness Magazine
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
News

Cooks Food Group to get its Mojo

Mojo Coffee Cartel has entered into a conditional agreement for Cooks Global Foods to acquire 100 percent of its shares. The transaction values the business at $19 million (subject to adjustments […]

Glenn Baker
Glenn Baker
August 15, 2018 2 Mins Read
1K

Mojo Coffee Cartel has entered into a conditional agreement for Cooks Global Foods to acquire 100 percent of its shares.

The transaction values the business at $19 million (subject to adjustments for net debt and movements in working capital), to be paid through a combination of cash and shares.

Loved by Wellingtonians for the past 15 years, Mojo Coffee Cartel co-founder Steve Gianoutsos says the new deal represents an exciting opportunity for the Mojo family to expand internationally while focus on the development of their New Zealand staff and stores.

“Since we started Mojo in Wellington 15 years ago, it has grown significantly and is now a highly recognised and well loved coffee brand. This has largely been down to the people who work in Mojo stores and the great customer experience.”

“Cooks is going to be really good for us in helping expand Mojo. Their experience in international markets and strategy to look globally is going to get our international expansion really firing; it’s something we’ve been pushing for some time. I’ve been working in the flagship Chicago store and we’re looking to push out into the US and beyond.”

Following the acquisition, Mojo will retain its brand and people with Steve Gianoutsos, the co-founder of Mojo, and executives Katy Ellis and John Holloway joining Cooks’ senior management team while continuing to run the Mojo business. It is intended that expansion in the US will be led by Gianoutsos.

The acquisition, which is subject to the conditions being satisfied, will give Cooks a New Zealand presence and significantly enhance its scale. It will extend Cooks’ global store network to 142 stores and accelerate its transition to generating positive cashflow.

Cooks executive chairman Keith Jackson says: “We expect it to provide a lift to Cooks’ earnings, free float, and market capitalisation. This, coupled with Cooks’ well-signalled plan to move to the NZX Main Board, have the potential to increase our market liquidity and broaden the company’s investor base.”

Concurrent with the acquisition, and in order to fund the cash component of the purchase price, Cooks intends to seek new capital. The pricing and structure for this capital raise is yet to be confirmed but will likely take the form of a renounceable rights issue. 
Cooks will make further announcements in this respect once a final decision is made.

Photo:  Mojo Founders Steve and Julie Gianoutsos outside Mojo Chicago_

Share Article

Glenn Baker
Follow Me Written By

Glenn Baker

Glenn is a professional writer/editor with 50-plus years’ experience across radio, television and magazine publishing.

Other Articles

Previous

Insights – Championing health and safety with Nicole Rosie and Mai Chen

Workplace policy (2)
Next

New online tool for business H&S policy

Next
Workplace policy (2)
August 17, 2018

New online tool for business H&S policy

Previous
August 14, 2018

Insights – Championing health and safety with Nicole Rosie and Mai Chen

Subscribe to our newsletter

NZBusiness Digital Issue – June 2025

READ MORE

The Latest

KiwiNet announces 2025 Research Commercialisation Awards finalists

August 20, 2025

The thriving Napier business that’s served 3.3 million lunches to Kiwi kids

August 20, 2025

AI ambition outpaces infrastructure

August 20, 2025

Business for sale website NZBizBuySell acquired by Bizstats

August 14, 2025

FleetPartners launches smarter way for Kiwi businesses to choose and lease vehicles

August 14, 2025

How to grow your brand online (without doing the most)

August 7, 2025

Most Popular

Understanding AI
Nourishing success: Sam Bridgewater on his entrepreneurship journey with The Pure Food Co
NZ fintech in process of launching first bank designed for Open Banking and AI
Still learning after all these years
Economy, AI, and exports dominate 2025 business outlook

Related Posts

AI ambition outpaces infrastructure

August 20, 2025

Business for sale website NZBizBuySell acquired by Bizstats

August 14, 2025

Kiwis rank among world’s most entrepreneurial minds, study

August 7, 2025

The next wave of Kiwi innovators rises on the back of global momentum

August 7, 2025
NZBusiness Magazine

New Zealand’s leading source for business news, training guides and opinion from small businesses to multi-national corporations.

© Pure 360 Limited.
All Rights Reserved.

Quick Links

  • Advertise with us
  • Magazine issues
  • About us
  • Contact us
  • Privacy policy
  • Sitemap

Categories

  • News
  • Entrepreneurship
  • Growth
  • Finance
  • Education & Development
  • Marketing
  • Technology
  • Sustainability

Follow Us

LinkedIn
Facebook
Instagram
YouTube
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability