Timothy's World Coffee
Encyclopedia
Timothy's World Coffee is a large Canadian
chain
of coffeeshop
s.
er of premium roasted coffee beans by Timothy Snelgrove and his wife Teresa Snelgrove. The company was originated as a business-school project Snelgrove undertook while studying at the University of Western Ontario
. As the company expanded, it evolved its retail offering to include brewed coffee
.
Timothy's was purchased by Ian and Becky McKinnon in 1986 who further expanded retail locations and created a wholesale coffee division. Timothy's also became a roaster partner of Keurig
and began producing single serve K-Cups for use in Keurig's line of single serve brewers.
In 2008, Timothy's became an affiliated portfolio company of Sun Capital Partners.
On November 13, 2009, it was announced that Green Mountain Coffee Roasters Inc.
would acquire Timothy's wholesale business, while Bruegger's Enterprises, Inc.
would purchase and continue to operate the retail business. Bruegger's would also acquire Timothy's partner restaurants, mmmuffins
and Michel's Baguette
, through a wholly owned subsidiary called ThreeCaf Brands Canada Inc.
Timothy's produces its own coffee beans, roasting and producing multiple formats of coffee in its own plant in Toronto
. For this reason the company offers a freshness guarantee and other supporting company policies.
, concentrating in New York City
. Other stores were located in Boston
, Washington, D.C.
, and Philadelphia. At one point, it was New York City's second-largest coffeehouse chain, after Starbucks
. After the September 11 attacks in 2001, the company closed its American operations and the company re-focused on the Canadian market and wholesale business operation.
, Republic of Korea (South Korea) on May 19, 2007.
and Michel's Baguette
retail businesses. Today, the company operates some 100 Canadian stores under the Timothy's name. Timothy's also operates a wholesale
coffee business, supplies office coffee service companies, packages coffee in K-Cups for Keurig
home and office brewers, and has a distribution program in large chain hotels, grocery stores, sports clubs and similar venues.
In February 2009, it named a brand of coffee the "Presidential No. 44" blend to celebrate a visit to Canada by U.S. President Barack Obama
.
acquired Timothy's wholesale business from Sun Capital Partners, Inc. for a cash purchase price of approximately $157 million, in U.S. dollars, subject to adjustment. Concurrently, Bruegger's Enterprises, Inc.
acquired Timothy's retail operations for an undisclosed sum.
Green Mountain acquired the Timothy's World Coffee wholesale business, but not their retail operations. Timothy's wholesale business will be maintained as a Canadian subsidiary, with operations integrated into Green Mountain's Specialty Coffee Business Unit. Green Mountain anticipates the acquisition will be accretive to its earnings per share in fiscal year 2010.
Bruegger's Enterprises, Inc., through a wholly owned subsidiary called ThreeCaf Brands Canada Inc., assumed control of Timothy's three restaurant brands: Timothy's World Coffee, mmmuffins
and Michel's Baguette
. Bruegger's intends to continue operations of all three brands.
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
chain
Chain store
Chain stores are retail outlets that share a brand and central management, and usually have standardized business methods and practices. These characteristics also apply to chain restaurants and some service-oriented chain businesses. In retail, dining and many service categories, chain businesses...
of coffeeshop
Coffeehouse
A coffeehouse or coffee shop is an establishment which primarily serves prepared coffee or other hot beverages. It shares some of the characteristics of a bar, and some of the characteristics of a restaurant, but it is different from a cafeteria. As the name suggests, coffeehouses focus on...
s.
Origin and background
Timothy's was founded in 1975 as a retailRetail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
er of premium roasted coffee beans by Timothy Snelgrove and his wife Teresa Snelgrove. The company was originated as a business-school project Snelgrove undertook while studying at the University of Western Ontario
University of Western Ontario
The University of Western Ontario is a public research university located in London, Ontario, Canada. The university's main campus covers of land, with the Thames River cutting through the eastern portion of the main campus. Western administers its programs through 12 different faculties and...
. As the company expanded, it evolved its retail offering to include brewed coffee
Coffee
Coffee is a brewed beverage with a dark,init brooo acidic flavor prepared from the roasted seeds of the coffee plant, colloquially called coffee beans. The beans are found in coffee cherries, which grow on trees cultivated in over 70 countries, primarily in equatorial Latin America, Southeast Asia,...
.
Timothy's was purchased by Ian and Becky McKinnon in 1986 who further expanded retail locations and created a wholesale coffee division. Timothy's also became a roaster partner of Keurig
Keurig
Keurig is a Reading, Massachusetts-based coffee machine manufacturing company, known for its K-Cup single-serving brewing system.- Company :Keurig was founded in 1992 by Olaf Keurig...
and began producing single serve K-Cups for use in Keurig's line of single serve brewers.
In 2008, Timothy's became an affiliated portfolio company of Sun Capital Partners.
On November 13, 2009, it was announced that Green Mountain Coffee Roasters Inc.
Green Mountain Coffee Roasters
Green Mountain Coffee Roasters is a publicly-traded brand of coffee based at Waterbury in the U.S. state of Vermont. The brand specializes in organic, fair trade, and specialty gourmet coffees. Keurig is a wholly owned subsidiary of Green Mountain Coffee Roasters, Inc., and sells many of their...
would acquire Timothy's wholesale business, while Bruegger's Enterprises, Inc.
Bruegger's
Bruegger's Enterprises, Inc., and wholly owned subsidiary Threecaf Brands Canada, Inc., are franchisers and operators of Bruegger's bakery-cafés, Timothy's World Coffee, mmmuffins, and Michel's Baguette....
would purchase and continue to operate the retail business. Bruegger's would also acquire Timothy's partner restaurants, mmmuffins
Mmmuffins
mmmuffins is Canadian coffee and muffin retailer founded in 1979. It granted its first franchise in 1980. The company, which has locations throughout Canada, is one of the largest specialty baked goods franchising companies in Canada. The company was purchased by Timothy's World Coffee in 2002. ...
and Michel's Baguette
Michel's Baguette
Michel's Bakery Café is a Canadian bakery-café founded in 1980, operating restaurants throughout Canada. The company is one of the largest bakery-café chains in Canada and operates both corporate and franchise locations. The company was purchased by Timothy's Coffees of the World Inc. in 2001...
, through a wholly owned subsidiary called ThreeCaf Brands Canada Inc.
Timothy's produces its own coffee beans, roasting and producing multiple formats of coffee in its own plant in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
. For this reason the company offers a freshness guarantee and other supporting company policies.
Expansion into the United States
In the mid-1990s, Timothy's expanded into the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, concentrating in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. Other stores were located in Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
, Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
, and Philadelphia. At one point, it was New York City's second-largest coffeehouse chain, after Starbucks
Starbucks
Starbucks Corporation is an international coffee and coffeehouse chain based in Seattle, Washington. Starbucks is the largest coffeehouse company in the world, with 17,009 stores in 55 countries, including over 11,000 in the United States, over 1,000 in Canada, over 700 in the United Kingdom, and...
. After the September 11 attacks in 2001, the company closed its American operations and the company re-focused on the Canadian market and wholesale business operation.
Expansion into South Korea
Timothy's opened its first overseas store in SeoulSeoul
Seoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...
, Republic of Korea (South Korea) on May 19, 2007.
Current business
Timothy's has since purchased the existing GrabbaJabba stores in Canada. It later acquired the mmmuffinsMmmuffins
mmmuffins is Canadian coffee and muffin retailer founded in 1979. It granted its first franchise in 1980. The company, which has locations throughout Canada, is one of the largest specialty baked goods franchising companies in Canada. The company was purchased by Timothy's World Coffee in 2002. ...
and Michel's Baguette
Michel's Baguette
Michel's Bakery Café is a Canadian bakery-café founded in 1980, operating restaurants throughout Canada. The company is one of the largest bakery-café chains in Canada and operates both corporate and franchise locations. The company was purchased by Timothy's Coffees of the World Inc. in 2001...
retail businesses. Today, the company operates some 100 Canadian stores under the Timothy's name. Timothy's also operates a wholesale
Wholesale
Wholesaling, jobbing, or distributing is defined as the sale of goods or merchandise to retailers, to industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services...
coffee business, supplies office coffee service companies, packages coffee in K-Cups for Keurig
Keurig
Keurig is a Reading, Massachusetts-based coffee machine manufacturing company, known for its K-Cup single-serving brewing system.- Company :Keurig was founded in 1992 by Olaf Keurig...
home and office brewers, and has a distribution program in large chain hotels, grocery stores, sports clubs and similar venues.
In February 2009, it named a brand of coffee the "Presidential No. 44" blend to celebrate a visit to Canada by U.S. President Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
.
Bruegger's/Green Mountain acquisition
On November 13, 2009 Green Mountain Coffee RoastersGreen Mountain Coffee Roasters
Green Mountain Coffee Roasters is a publicly-traded brand of coffee based at Waterbury in the U.S. state of Vermont. The brand specializes in organic, fair trade, and specialty gourmet coffees. Keurig is a wholly owned subsidiary of Green Mountain Coffee Roasters, Inc., and sells many of their...
acquired Timothy's wholesale business from Sun Capital Partners, Inc. for a cash purchase price of approximately $157 million, in U.S. dollars, subject to adjustment. Concurrently, Bruegger's Enterprises, Inc.
Bruegger's
Bruegger's Enterprises, Inc., and wholly owned subsidiary Threecaf Brands Canada, Inc., are franchisers and operators of Bruegger's bakery-cafés, Timothy's World Coffee, mmmuffins, and Michel's Baguette....
acquired Timothy's retail operations for an undisclosed sum.
Green Mountain acquired the Timothy's World Coffee wholesale business, but not their retail operations. Timothy's wholesale business will be maintained as a Canadian subsidiary, with operations integrated into Green Mountain's Specialty Coffee Business Unit. Green Mountain anticipates the acquisition will be accretive to its earnings per share in fiscal year 2010.
Bruegger's Enterprises, Inc., through a wholly owned subsidiary called ThreeCaf Brands Canada Inc., assumed control of Timothy's three restaurant brands: Timothy's World Coffee, mmmuffins
Mmmuffins
mmmuffins is Canadian coffee and muffin retailer founded in 1979. It granted its first franchise in 1980. The company, which has locations throughout Canada, is one of the largest specialty baked goods franchising companies in Canada. The company was purchased by Timothy's World Coffee in 2002. ...
and Michel's Baguette
Michel's Baguette
Michel's Bakery Café is a Canadian bakery-café founded in 1980, operating restaurants throughout Canada. The company is one of the largest bakery-café chains in Canada and operates both corporate and franchise locations. The company was purchased by Timothy's Coffees of the World Inc. in 2001...
. Bruegger's intends to continue operations of all three brands.