UK-based supermarket chain Tesco has acquired remaining stake in Harris + Hoole coffee chain, in an attempt to diversify into non-grocery segment.
The retailer had owned 49% of the coffee chain.
It has now purchased the remaining 51% stake.
The financial details of the deal have not been divulged.
Tesco had aided the establishment of the coffee chain in 2012, which was launched by Australian nationals Nick, Andrew and Laura Tolley, who also operate another coffee chain Taylor St Baristas, reported The Telegraph.
Harris + Hoole's losses doubled in 2015 after the store openings increased from 23 to 43. The company's pre-tax losses rose to £25.6m in the year ending March 2015, compared to £12.8m in 2014, reported the publication.
Earlier this month, it was reported that Tesco is discontinuing 24-hour trading at 76 of its large stores due to low customer turnout in the early hours.
The retailer had initiated the 24-hour trading service 20 years ago. All the 76 stores will now close down at midnight and reopen in the morning at 06.00.
The move is part of the company's CEO Dave Lewis' efforts to turnaround operations following its performance over the past few years.
