The Israeli coffee chain Cofix announced continuation of its rapid expansion plans on Wednesday, saying it will open cafes all over the world.
The chain has 133 cafes in Israel and 29 Super Cofix supermarkets, and recently opened its first branch abroad, in Russia.
The overseas expansion program will be carried out through a holding company to be founded by Urban Cofix. Thirty percent of the share capital in the holding company will be held by Urban Cofix without making any investment, while outside investors will take the remaining 70 percent.
A memorandum of understanding has been signed which calls for a system of franchises where the Cofix brand will sell coffee and other beverages, pastries, sandwiches, etc. at a uniform price everywhere, except for Israel, the U.S., and Turkey.
If all goes on schedule, Cofix will open cafes in two European countries in 2018 and in eight more countries in 2019.