Tesco takes full ownership of artisan coffee chain Harris+Hoole
UK – Tesco has taken full ownership in artisan-style coffee chain Harris + Hoole, in a sign the supermarket giant is not giving up on its attempts to diversify into non-grocery ventures, The Guardian reported.
Harris + Hoole now has 43 outlets, including 29 in Tesco stores, and employs more than 500 people, but losses widened to £25.6m in the year to 1 March 2015, compared with £12.8m in the year before as it opened more than 20 new coffee shops.
Harris + Hoole was launched by Australian siblings Nick, Andrew and Laura Tolley, who also run London-based coffee chain Taylor St Baristas. Tesco, which had owned 49% of the coffee chain since 2012, has now bought the remaining 51% for an undisclosed amount.