The British Columbia based bakery brand, Purebread, have been acquired by Coho Collective Kitchens for CA$10m and shares valued at CA$220,000. This news has been well received across the stock market, with a 58% increase on Friday 9th June versus Friday 26th May – the acquisition announcement was made of Monday 29th May.
Coho Collective Kitchens are Canada’s largest shared kitchen space operator and they describe themselves as:
“Where entrepreneurs come to launch culinary dreams, land bold ambitions & discover the freshest food trends through our commissary kitchens and restaurants.“
There are currently six Purebread stores across British Columbia, whilst there are seven commissary locations that Coho currently operate across the province. The brand name and stores will remain as they currently are, with Coho aiming to grow and develop further.
Purebread shared unaudited financial results (ending 31/01/23), containing CA$10M of Revenue and CA$1.7m EBITDA.
Purebread offer a variety of products, including hot drinks, cakes (both the slice and full cakes) and bread.
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