Private equity firm Advent International and its Asian partner agreed to take a large stake in coffee and tea retailer, The Coffee Bean & Tea Leaf.
Advent refused to disclose the size of the investment it made in the privately held company. Advent International and private equity firm CDIB Capital agreed to buy a large stake in the coffee and tea retailer. Other PE firms who were investors in the deal include Mirae Asset Private Equity and the Sassoon family.
Sassoon family is the biggest shareholder in The Coffee Bean & Tea Leaf. The coffee and tea retailer was established in 1963 in Southern California. The Coffee Bean & Tea Leaf has more than 900 stores in 30 countries. The company had massively expanded its operations in Asia particularly in China, Malaysia, Indonesia, India, Vietnam and Singapore.
Advent had invested in retail firms including Party City, Lululemon Athletica, Charlotte Russe and Five Below Inc.
The Coffee Bean & Tea Leaf was advised by Barclays Plc.
Join the Conversation