Monday, October 3, 2022

Latest Posts

New York’s Jack’s Stir Brew Merges with Wine Bar Chain Vin Sur VingtDaily Espresso Information by Roast Journal


Longtime New York espresso purveyor Jack’s Stir Brew has merged with unbiased New York wine bar chain Vin Sur Vingt (VSV) to kind a brand new guardian firm known as TenEleven Hospitality.

The monetary phrases of the merger haven’t been launched.

With the merger, TenEleven Hospitality now owns and operates 14 retail areas all through New York Metropolis and Lengthy Island, together with the six present Jack’s Stir Brew Espresso bars and eight VSV wine bars. The brand new guardian firm says three extra Jack’s espresso bars are at present “within the pipeline.”

The merger was led by the New York-based funding agency Feenix Enterprise Companions, which was an present lender to VSV. In the meantime, VSV founders and operators — Rakesh Chandiramani, Sebastien Auvet and Dilip Hari — will lead the guardian firm. The three have been concerned in company administration of Jack’s Stir Brew since 2020.

“The synergies between these companies have been clear and the VSV group has achieved an unbelievable job with Jack’s Espresso, so the merger made apparent sense,” Keith Lee, CEO of Feenix, stated in an announcement of the deal. “We’re actually enthusiastic about the place the group will take the enterprise with this new mixture.”

Jack’s Stir Brew was based by Jack Mazzola in 2003 with a single location on tenth Road within the Greenwich Village neighborhood of Manhattan. The cafe was one of many first within the metropolis to advertise all Natural and Fairtrade-certified coffees. It was additionally the birthplace of a mechanical espresso grounds agitation system that might finally encourage the Stir Brew title.

In 2018, Mazzola shared plans to broaden Jack’s by 25 new shops over a four-year interval, plus a doable nationwide rollout. These developments haven’t but come to move, though TenEleven says future plans embrace the launch of a wine and low membership, plus scaling brick-and-mortar operations to “further markets within the Northeast and South.”


Does your espresso enterprise have information to share? Let DCN’s editors know right here

>

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.