Cafe de Coral
Group Assignment
Topic: Café de Coral
Background of Café de Coral
The Cafe de Coral Group was incorporated in 1968, but it would not be until September 1969 when it opened its first Café de Coral restaurant in Causeway Bay. The chain gradually expanded over the next decade and went on air in 1977 when it promoted its restaurants through TV commercials. In 1979, Café de Coral established its first food processing plant, a move commonly taken to lower costs and ensures consistency. In 1986, the Café de Coral Group finally went public, and in 1988, it hit a major milestone by opening up its 50th Café de Coral restaurant. The years after this would be marked by diversification when it went on a buying spree. The company currently caters to an average of over 300,000 customers a day and becomes undisputed market leader in the industry.
In May 1990, Café de Coral made its first acquisition by buying out the Ah Yee Leng Tong chain for $14 million HKD. A year later in 1991, it acquired The Spaghetti House, a popular chain that served HK-style Italian food. The same year, it opened up its second food processing plant. 1992 was another milestone year for Café de Coral when it opened both its 100th restaurant as well as its first restaurant outside Hong Kong in the nearby city of Shenzhen.
In 1996, Café de Coral opened up its first Bravo le Café restaurant and that same year, it acquired Scanfoods, a ham processing and food distribution business. In 1998, it started yet another restaurant chain called Super Congee & Noodle, serving exactly what the name states.
Café de Coral was not finished with its trend of acquisitions, and in 2000, it acquired Denny's Bakery, a bakery manufacturing and distribution business in Hong Kong. That same year, it acquired Manchu Wok, a North American Chinese fast food chain that had a strong presence in Canada and the United States. In the years following, Café de Coral also acquired China Inn (2002), New Asia Dabao
Topic: Café de Coral
Background of Café de Coral
The Cafe de Coral Group was incorporated in 1968, but it would not be until September 1969 when it opened its first Café de Coral restaurant in Causeway Bay. The chain gradually expanded over the next decade and went on air in 1977 when it promoted its restaurants through TV commercials. In 1979, Café de Coral established its first food processing plant, a move commonly taken to lower costs and ensures consistency. In 1986, the Café de Coral Group finally went public, and in 1988, it hit a major milestone by opening up its 50th Café de Coral restaurant. The years after this would be marked by diversification when it went on a buying spree. The company currently caters to an average of over 300,000 customers a day and becomes undisputed market leader in the industry.
In May 1990, Café de Coral made its first acquisition by buying out the Ah Yee Leng Tong chain for $14 million HKD. A year later in 1991, it acquired The Spaghetti House, a popular chain that served HK-style Italian food. The same year, it opened up its second food processing plant. 1992 was another milestone year for Café de Coral when it opened both its 100th restaurant as well as its first restaurant outside Hong Kong in the nearby city of Shenzhen.
In 1996, Café de Coral opened up its first Bravo le Café restaurant and that same year, it acquired Scanfoods, a ham processing and food distribution business. In 1998, it started yet another restaurant chain called Super Congee & Noodle, serving exactly what the name states.
Café de Coral was not finished with its trend of acquisitions, and in 2000, it acquired Denny's Bakery, a bakery manufacturing and distribution business in Hong Kong. That same year, it acquired Manchu Wok, a North American Chinese fast food chain that had a strong presence in Canada and the United States. In the years following, Café de Coral also acquired China Inn (2002), New Asia Dabao