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Major brands pursue aggressive acquisition
Alimentation Couche-Tard intends to bid $8bn for the US convenience store chain Cumberland Farms, formerly known as EG Group. This move follows the $8.7bn July 2026 purchase of Poland’s Zabka Group by Couche-Tard, which saw the giant take over 13,000 convenience stores. The acquisition also adds 3,300 US and European petrol stations and convenience stores to the Canadian giant’s estate. Couche-Tard holds a $38bn war chest after failing to acquire 7-Eleven in a $47bn bid last year. In the coffee sector, Keurig Dr Pepper plans to split into two US-listed businesses, Global Coffee Co and Beverage Co, following its $18bn acquisition of JDE Peet’s. The company appointed former Kimberly-Clark Chief Operating Officer Russ Torres as the new CEO for the Global Coffee Co spinoff, which expects to occur in the first quarter of 2027. This follows the departure of JDE Peet’s CEO Rafael Oliveira, who left the role three months after his appointment to join the Dutch beer giant Heineken.
Gong cha is entering the UAE, marking its second Middle East market. The bubble tea chain, now under new owner Bain Capital, signed a master franchise agreement in January 2024 to open at least 300 stores in the region through its partner Shahia Foods Group, a Dunkin’ licensee. Gong cha currently operates a dozen stores in Saudi Arabia after its initial launch in Riyadh more than two years ago.
Executive leadership shifts in global brands
Panera Bread appointed former Kraft Heinz executive Renato Gueraldi as Senior Vice President for Franchise Operations to increase North American outlet growth. Gueraldi is the fourth senior hire for the company in 2026 as it pursues a $7bn sales target by 2028. Panera currently operates 2,250 stores, 55% of which are franchised, including nearly 300 locations operated by Ohio-based Covelli Enterprises across five US states. The company remains the third-largest operator in the US branded coffee shop market by outlets.
In South Korea, SPC Group named former Samsung and eBay executive Kang Shin-bong as the new CEO of Paris Croissant, the parent company of Paris Baguette. Kang intends to grow Paris Baguette to 12,000 stores globally by 2030 while increasing brand exposure in the South Korean market. TOUS les JOURS also hired Max Gallegos, a former McDonald’s executive, as Chief Marketing Officer for North America. Gallegos aims to improve brand awareness and customer footfall to help the chain catch up to Paris Baguette in the US.
The global coffee market is currently defined by a stark divide between massive corporate consolidation and localized volatility in profit margins. Colombian coffee group Juan Valdez named Luis Guillermo Quintero Martinez as its new CEO, the first leadership change since 2018. While the group achieved 20% year-on-year revenue growth for the year ended 31 December 2025 to reach COP 967.8bn ($271.1m), its profits fell 34% year-on-year during the first half of 2026. This profit decline occurred despite an 18.2% revenue increase in the same period, as higher green coffee costs and labour expenses pressured the bottom line. The company is working to build on record revenues under new leadership succeeding Camila Escobar.
Tchibo also appointed Zofia Korecka-Rejczak, a former Miele and Adidas executive, as the new Managing Director for its business in Poland. The German coffee roaster and retailer currently operates 53 coffee bars in Poland where it has distributed packaged coffee since 1992.
Regional sales and expansion trends
Mega Coffee, the largest operator in South Korea’s branded coffee shop market with 4,500 stores, plans to open its first US location in New York before the end of 2026. The 2015-founded chain, which sells large cup sizes and extensive cold coffee menus, currently prices americanos below ₩3,000 ($2.26) in its home market. Observers are watching to see how this pricing strategy translates in the upmarket Flatiron District of Manhattan.
Tata Starbucks reported one of its strongest quarters ever in its second quarter, posting a double-digit revenue increase and its fifth consecutive quarter of positive like-for-like sales growth. The 50:50 joint venture between Tata Consumer Products and Seattle-based Starbucks reversed two consecutive quarters of net outlet decline by adding two new Reserve stores in New Delhi and Hyderabad. Sunil D’Souza, the CEO of Tata Consumer Products, described the period as one of the brand’s best.
Tim Hortons reported improved earnings for the three months ended 30 September 2026, rebounding from a disappointing second quarter. Cold beverage sales grew 5% year-on-year in the third quarter, led by the chain’s first matcha range which launched in July 2026. However, outlet growth for the Canadian coffee giant remains lukewarm. Afternoon food sales and iced beverages helped the company’s performance.
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