On 16 May, Island Hotels Group Holdings plc announced that The Coffee Company (Malta) Ltd, a fully owned subsidiary of Buttigieg Holdings Limited (which is 50% owned by Island Hotels Group Holdings plc), signed a Franchise Agreement with Costa International Limited granting it the exclusive development and operating rights for Costa Coffee Shops in Malta.
The Coffee Company (Malta) Ltd intends to convert the three existing outlets of Buttigieg Holdings at Malta International Airport plc into branded COSTA coffee shops during 2012. These outlets have extended the contracts currently in place at MIA up to the year 2022.
Meanwhile, in terms of the development agreement, additional COSTA coffee outlets are expected to follow in key locations across Malta at a later stage.
Costa Coffee was founded in 1971 and taken over by Whitbread plc in 1995. Whitbread plc is listed on the London Stock Exchange and forms part of the FTSE 100 Index with a current market value of over GBP 3 billion. Costa Coffee operates in 25 markets including China and India. It is the UK’s largest coffee shop brand with almost 1,400 stores.