The Second Cup Ltd.
Second Cup Cafe
TypeSubsidiary
IndustryCoffee
Founded1975 (1975) in Toronto, Ontario, Canada
Headquarters
Mississauga, Ontario
,
Canada
Key people
Peter Mammas
Products
  • Coffee beverages
  • smoothies
  • tea
  • baked goods
  • sandwiches
RevenueDecrease CAN$23.63 million (2017)[1]
Increase CAN$976 thousand (2017)[1]
Decrease CAN$-3.09 million (2017)[1]
Total assetsCAN$44.7 million (2017)[1]
Total equityCAN$28.26 million (2017)[1]
ParentFoodtastic Inc.
Websitesecondcup.com
Second Cup Coffee at Markville Mall, Markham, Ontario

Second Cup Cafe. is a Canadian restaurant chain, coffee retailer, and roaster that operates more than 190 cafes nationwide.[2] Its headquarters are in Mississauga, Ontario.[3] Its stores sell hot and cold beverages, pastries, snacks, pre-packaged food items, hot and cold sandwiches, and drinkware, including mugs and tumblers.

Second Cup has franchises in the United States, Morocco, Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, Lebanon, Jordan, Egypt, Finland, United Arab Emirates, Iraq, Syria, Yemen, Cyprus, Azerbaijan, Angola, Ghana, Romania, Pakistan, United Kingdom, Philippines, and Bangladesh.

History

Second Cup was founded in 1975 by Tom Culligan and Frank O'Dea, in Toronto, Canada. Culligan eventually purchased O'Dea's shares, expanding it to a 150-store chain. He sold it in 1988 to mmmuffins founder, Michael Bregman.

As chairman and CEO, Khalil Al Gawad took Second Cup public in 1993. Between 1993 and 2002, it was owned by a number of American companies, including Coffee Plantation (AZ), Coffee People (OR), and Caribou Coffee (MN). Al Gawad sold Second Cup to Cara Operations Limited in 2002.[4]

In November 2006, Cara sold Second Cup to Dinecorp Hospitality, which was controlled by former Cara CEO Gabe Tsampalieros, who became chairman of Second Cup. Tsampalieros died on March 11, 2009.[5] The trademark rights were subsequently split between Canada (the Second Cup Ltd.) and international (the Second Cup Coffee Company Inc.). Stacey Mowbray was head of the Canadian company and Jim Ragas the international side.[6][7]

Second Cup was featured in an episode of Undercover Boss that aired in March 2012 on the W Network. Under Mowbray's direction, Second Cup was presented as a company that cares.[8]

In September 2012, the company launched Tassimo beverages.[9] In April 2015, they started their rewards program, which allow users to earn points using a mobile app.[10]

Alix Box was the CEO and president at of the Second Cup Ltd. from 2014 until suddenly leaving in May 2017;[11][12] she was temporarily replaced by Garry MacDonald.[13]

On April 12, 2018, Bregman announced an agreement with National Access Cannabis to develop and convert a network of recreational cannabis stores. Second Cup agreed to transform some of its western Canada locations into recreational cannabis dispensaries, with no cannabis-related products to be sold at its cafés.[14] The company stated that this alliance would provide it an opportunity to leverage its real estate assets to drive value for the franchisees, without affecting plans for new product innovation and opening new cafés across Canada.[15]

In August 2018, the company was already considering which of its locations in Ontario might be suitable as cannabis retail stores as an alternative to their current use, in conjunction with National Access Cannabis.[16]

Aegis Brands

On November 8, 2019, Second Cup announced plans to change its name to Aegis Brands Inc., (TSX: AEG) pending stockholder approval the following year. The company was scheduled to open two cannabis stores in Calgary in early 2020 and planned expansion into Ontario.[17]

On December 5, 2019, Aegis Brands announced its acquisition of Ottawa-based coffeehouse chain Bridgehead Coffee for $11 million.[18]

In February 2021, Aegis Brands agreed to sell Second Cup to Quebec-based Foodtastic Inc., for an undisclosed sale price that included $14 million in cash.[19] Foodtastic chief executive Peter Mammas said that the company intended to expand the brand to 300 locations by 2025, from the existing store count of 190.[20]

Rainforest Alliance

The Rainforest Alliance is an international nonprofit organization that works to conserve biodiversity and promote the fair treatment of workers. Rainforest Alliance Certified coffee farms must meet standards that include the protection of farms, soils, waterways, and wildlife; the workers are in safe working conditions; and the workers enjoy good housing, medical care, and access to schools for their children.[21][22] 80% of Second Cup coffees are Rainforest Alliance Certified.

As of the end of 2011, Second Cup offered ten whole-leaf tea blends and herbal tisanes that were fair trade certified.[23]

Firebombing incident

In 2001, Rhéal Mathieu, a member of Front de libération du Québec (FLQ), who in 1967 had been sentenced to nine years in prison for terrorist activities including murder, was convicted of firebombing three Second Cup locations in Montreal. The responsibility for the bombings was claimed by the Brigade d'autodéfense du français (BAF) (translated as Self Defence Brigade of French). BAF claimed it had targeted the stores because of the company's use of its incorporated English name, "Second Cup", demanding inclusion of French in the name of the business. After the media coverage of the fire bombings, many Second Cup locations in Quebec changed their signs to Les cafés Second Cup.[24][25]

See also

References

  1. 1 2 3 4 5 "The Second Cup Ltd. 2017 Annual Report". The Second Cup Ltd. Retrieved December 30, 2018.
  2. ↑ "Franchising – Second Cup". www.secondcup.com. Retrieved December 21, 2017.
  3. ↑ "Contact Us Archived 2011-09-11 at the Wayback Machine." Second Cup. Retrieved on September 13, 2011. "MAILING ADDRESS: Second Cup Ltd. 6303 Airport Road Mississauga, Ontario L4V 1R8" and "6303 Airport Road, 2nd Floor"
  4. ↑ "Board of Directors". Ideaca. Retrieved November 18, 2011.
  5. ↑ "CEO Gabe Tsampalieros dies at age 61 following illness". The Star. Toronto. March 12, 2009.
  6. ↑ "The Second Cup Ltd. Announces Organizational Change". CNW Group. January 28, 2011. Retrieved November 18, 2011.
  7. ↑ "Second wind for Second Cup?". Canadian Business. April 25, 2011. Retrieved February 25, 2014.
  8. ↑ "Shows". W Network. January 1, 1970. Retrieved February 25, 2014.
  9. ↑ "Tassimo Launch – Second Cup". Secondcup.com. Archived from the original on September 19, 2012. Retrieved February 25, 2014.
  10. ↑ "Second Cup launches new Rewards program, available on Android and iOS | MobileSyrup". MobileSyrup. April 27, 2015. Retrieved November 15, 2017.
  11. ↑ "Stocks". Bloomberg.com. Retrieved December 21, 2017.
  12. ↑ "Second Cup CEO Alix Box leaves company suddenly". Toronto Star. May 10, 2017. Retrieved May 15, 2017.
  13. ↑ "Second Cup CEO Alix Box leaves company". CBC News. Retrieved May 15, 2017.
  14. ↑ "Second Cup says it may convert Ontario coffee shops to cannabis stores". CBC News. August 22, 2018. Retrieved May 15, 2017.
  15. ↑ Corp, National Access Cannabis. "NAC and Second Cup Establish Strategic Alliance to Operate Recreational Cannabis Dispensaries and Lounges". www.newswire.ca. Retrieved April 8, 2020.
  16. ↑ "National Access Cannabis and Second Cup announce updated plans to build retail META stores across Ontario". August 15, 2018. Archived from the original on September 28, 2018. Retrieved November 29, 2019.
  17. ↑ McClelland, Colin (November 8, 2019). "Second Cup is changing its name to Aegis as it branches out into cannabis". Financial Post. Retrieved November 8, 2019. It's aiming to be called Aegis Brands Inc. after shareholder and Toronto Stock Exchange approval next year, the Mississauga, Ont.-based company said in a statement Friday... The company plans to open two cannabis stores in Calgary early next year in a joint venture with National Access Cannabis while preparing to expand into Ontario, Second Cup said in a separate statement Friday.
  18. ↑ Schnurr, Joanne (December 5, 2019). "Second Cup parent company Aegis Brands buys Ottawa-based Bridgehead Coffee". CTV News. Retrieved December 7, 2019.
  19. ↑ "Second Cup Coffee Co. to be sold to Quebec restaurant franchiser Foodtastic".
  20. ↑ "Goodbye downtown, hello suburbs: What the new Second Cup owner has in store". ca.finance.yahoo.com. February 19, 2021. Retrieved February 19, 2021.
  21. ↑ "Home". Rainforest Alliance. Retrieved February 25, 2014.
  22. ↑ Tim Hortons (June 30, 2013). "Corporate Profile". Tim Hortons. Retrieved February 25, 2014.
  23. ↑ "Our Responsibility – Second Cup". Secondcup.com. Archived from the original on March 13, 2014. Retrieved February 25, 2014.
  24. ↑ "Second Cup bomber jailed". CBC News. July 6, 2001. Retrieved November 18, 2011.
  25. ↑ Banerjee, Sidhartha (October 18, 2007). "Second Cup to review Quebec signs after outcry". The Canadian Press. thestar.com. Retrieved November 18, 2011.
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