USA: Tully's Coffee announces Asian alliance with Ueshima Coffee Company, Ltd.
Tully's Coffee Corporation announces their execution of a licensing agreement with Ueshima Coffee Company (UCC), one of Asia's largest coffee purveyors. The agreement between the two coffee companies provides for the licensing of the Tully's brand to UCC for use throughout Asia. A key component of UCC's long-term expansion strategy was to license the rights to use an established premium coffee brand. As part of the agreement, UCC will pay Tully's an up-front cash payment for licensing the rights to the Tully's brand. UCC expects to convert many of their 245 existing coffee locations into Tully's branded locations. The Tully's / UCC license agreement excludes Japan where Tully's already has a strong presence with its joint venture partner, Tully's Coffee Japan.
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