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 TORONTO, Sept. 21 /PRNewswire/ -- The Second Cup Ltd., Canada's largest specialty coffee retailer, announced plans to expand into the U.S. market by signing an agreement to acquire The Coffee Plantation, Arizona's best-known coffee house chain. The transaction will be completed through a combination of cash plus a small issuance of subordinate voting shares and is subject to certain customary conditions and regulatory approvals.
 "The Coffee Plantation represents a revolutionary concept in specialty coffee in North America. Its large scale stores and broad range of product offerings really makes it a one-stop coffee superstore. We expect that our relationship will strengthen and expand future business opportunities for both companies," said Michael Bregman, chairman and CEO, The Second Cup Ltd. "We're extremely pleased with this agreement which allows Second Cup to be associated with a company which we regard as the finest coffee operators in the U.S. and one that is poised for significant growth."
 Founded five years ago by partners Joe Johnston and Tim Peelan, The Coffee Plantation expects more than US$5 million in sales this year from its operations which include three upscale Arizona retail locations -- two of which seat more than 200 -- and its wholesale business which includes exclusive sales agreements with prominent restaurants and resorts in the Phoenix area.
 True to the one-stop shopping concept, The Coffee Plantation's unique stores offer coffee lovers everything they dream of: an entertaining and sociable meeting place; exclusive coffee varieties and blends, custom-roasted by The Coffee Plantation's expert roasters; exotic coffee-based drinks; a plentiful selection of baked goods, desserts and light snacks, and a wide range of coffee accessories. Recently, The Coffee Plantation captured several of the top retail honors awarded in Phoenix, including Best Coffee House, Best Cappuccino, Best Coffee Paraphernalia and Best Place to be Dressed In Black and Read Poetry.
 "Joining with Second Cup will bring tremendous financial and multi-unit management expertise to our operation. Our companies share a passion for coffee excellence and are committed to bringing customers a coffee experience unlike any other. This partnership can only enhance our proficiency and our ability to grow," said Mr. Johnston, president, The Coffee Plantation.
 The Second Cup Ltd. is a publicly listed company traded on The Toronto Stock Exchange. It is based in Etobicoke, Ontario, with 182 specialty retail coffee stores across Canada.
 -0- 9/21/93
 /NOTE TO EDITORS: To arrange an interview with Mr. Bregman, call the contacts below./
 /CONTACT: Trish Krause, Mae McKeage or Judy Lewis of Strategic Objectives Inc. 416-366-7735, or fax, 416-366-2295/

CO: The Second Cup Ltd.; The Coffee Plantation ST: Ontario, Arizona IN: REA SU: TNM

TW -- NY024 -- 4120 09/21/93 11:25 EDT
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Publication:PR Newswire
Date:Sep 21, 1993

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