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Madisons sells its coffee shops
Madisons Coffee has sold its coffee shop operation to the Out of T own Group for up to £2.3m.
Two of the company’s subsidiaries, City Gourmets and Carwardine, own and operate 27 sites under the Madisons Coffee, Madisons Speciality Coffee Bars and Carwardine’s of Bristol brands.
Madisons said it will be using the proceeds of the sale to continue the development of its chain of Richoux restaurants in the UK. It will also be considering the purchase of additional restaurants and exploring plans to franchise the brand abroad.
The company’s decision to bow out of coffee shop operations closely follows Coffee Republic’s recent move to turn its coffee bars into US-style deli bars.
The Out of Town Group operates a range of eateries at 24 shopping centres across England.
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