NAB bankers win major coffee hit - 16 June 2005
Thursday, 16 June 2005
The local operators of the Gloria Jeans coffees chain have just purchased the international rights (outside of the US) to this fast growing franchise, with the help of bankers at the National Australia Bank (NAB).
The Major Client Group (MCG), an integral part of NAB’s Corporate Bank, pitched for, and won, the acquisition financing for the Australian master franchise holder of Gloria Jeans Coffees, Jireh International, to purchase the global rights of Gloria Jeans Coffees from the American parent Company.
“The Melbourne Major Client Group not only won the total acquisition funding, but was subsequently mandated as the sole financier for the acquisition,” said Paul Orton, regional general manager of Corporate Banking at NAB.
Gloria Jeans Coffees, has 270 stores across Australia, and is one of the fastest growing franchises in Australia.
The Australian operators of Gloria Jeans also take ownership of an additional 83 cafes in countries such as Japan, Korea, Malaysia, Mexico, Ireland, Philippines, Thailand, Turkey, Indonesia, Guam and the United Arab Emirates. It is also in discussion with master franchise opportunities in China, India, UK, South Africa, Israel and Japan, Hong Kong and Singapore.
Peter Irvine, Managing Director of Gloria Jeans Coffees Australian master franchise holder Jireh International, said: “Our bankers were crucial to the success of this transaction.
“They were able to quickly understand the opportunity and develop the complete finance package that we were looking for,” Mr Irvine said today.
The Gloria Jeans deal closely follows NAB Corporate Banking’s success as joint lead arranger and underwriter of a $1.47 billion loan for Ramsay Health Care Ltd’s takeover bid of Affinity Health Ltd. It also recently supported Patrick Corporation’s bid for a controlling share of Richard Branson’s Virgin Blue airline and funding a deal for China Light and Power.
About NAB Corporate Banking
The Major Client Group or Corporate Banking is part of the National Australia Bank’s Business and Private Banking division. Business and Private Banking employs over 3,400 business banking specialists and 450 financial planners and specialists at over 170 business banking centres Australia wide. It is one of the market leaders in providing business banking services to Australian business. The National provides a number of ‘Business Information Guides’ that are available on its website www.nab.com.au. For further information visit www.nabgroup.com.
Further media information contact:
NAB Corporate Affairs
Guy McKanna
Tel: (02) 9966 3532
Mob: 0402 893 843
* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges
