Australian music company Brazin Ltd has revealed that six of its Gosh Coffee stores have been sold to Freshfood Hospitality Pty Ltd in a bid to enable greater focus on its core businesses.
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The two outlets in New South Wales and the four in Victoria were sold complete with all fixtures and fittings, intellectual property and inventory and the “purchase consideration is within the price expectation set by directors”, according to Brazin.
The outlets are trading under the brands Robert Timms, Bushells Coffee and Cafe Bar.
Negotiations are currently underway with a second party for the disposal of Brazin’s eight remaining, situated in Queensland and the ACT.
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