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Arab Investments acquires UK’s Coffee Republic

A London-based private property investment firm has acquired coffee chain, Coffee Republic, out of administration, vowing to expand the number of outlets in the UK and elsewhere.

Arab Investments, a London-based property investment firm, has bought Coffee Republic out of administration.

The firm said today that it had acquired the business from KPMG, though it did not disclose the price.

Coffee Republic operates 80 shops in Britain. 

Arab Investments said in a statement it would expand the number in the UK and open outlets elsewhere.

The firm’s founder, Khalid Affara, said it intended to start growing the business “with immediate effect”.

Arab Investments is best known in London for plans to develop a skyscraper called the Pinnacle in the capital's financial district. Pramerica, the real estate investment arm of US insurer Prudential, is providing some of the financing.

Last year, Arab Investments agreed a deal for Canada's Brookfield group to construct the tower for a fixed price of £575m (€667 million; $941 million).