US-based Marley Coffee has acquired majority of the operational assets of BikeCaffe Franchising, which owns and sells mobile coffee carts, for an undisclosed amount.
As per the asset purchase agreement, Marley Coffee has purchased BikeCaffe's worldwide marks, copyrighted works, an online ordering system and a website.
Furthermore, Marley Coffee also acquired BikeCaffe's existing franchise agreements, a database of potential US and global franchisees, apart from five Marley Coffee branded BikeCaffe coffee carts.
Currently, there are 21 BikeCaffe coffee carts operational in the US, Canada, Jamaica and UAE.
Marley Coffee CEO Brent Toevs said, "We believe BikeCaffe's mobile coffee carts are also ideal for many of our existing channels such as office coffee service and hospitality, but definitely for certain retailers for front-of-store or in-store kiosk usage, and we plan to explore some of the groundwork that Ralph Massetti has already begun."
