Khalid Affara of Arab Investments, said: "We are delighted to have completed the acquisition of Coffee Republic today and we intend to start growing the business with immediate effect.
"Coffee Republic has a very strong brand name and we are bringing additional investment into the company to expand the number of retail outlets in the UK and elsewhere."
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Arab Investments Ltd was advised on the acquisition by Fiona Hamilton, Business Recovery Partner and Head of Scottish Retail at King Sturge who said: "This deal is the UK's largest coffee acquisition and we were delighted to be able to introduce our client to KPMG.
"We have provided operational and strategic acquisition advice and will continue to advise Arab Investments on strategy moving forward," she commented.
Meanwhile, Richard Hill, Joint Administrator and KPMG partner, said: "I'm delighted that we have agreed the sale of Coffee Republic, rescuing a substantial part of the business and protecting 62 jobs.
"While coffee shops face tough competition on the High Street in these challenging economic times, the amount of interest we received in Coffee Republic is testament to the strength of the brand.
"I would like to thank the company's employees and suppliers who have supported the business over the past three weeks, and helped us to achieve this successful outcome."
Arab Investments is a substantial privately owned property investment company based in London, which is developing the tallest building in the City of London, The Pinnacle.
(GK/BMcC)
