Tampa, Florida (AP) Harry’s coffee shops are looking to expand their coffee shop empire with $40 million in new investment from a consortium of investors.
The venture, which has been in the works for years, would bring together the coffee shop chain with a national chain of coffee shops and an upscale chain of restaurants that are already in the market.
The deal was announced Thursday by Harry’s co-founder and CEO Richard Wiebe, a partner at JLL.
The consortium of private equity firms includes Citi Ventures, The Carlyle Group and CarlyleGroup Partners.
The partnership would bring Harry’s retail and hospitality businesses to Tampa, the state’s third-largest city.
The company’s Tampa-based stores would open in 2020 and 2021, while its Orlando locations would open next year.
The Tampa coffee shop concept would be an extension of the company’s expansion plans.
The Tampa chain’s current locations include Tampa International Airport, where the company will expand its existing coffee shop into a new Starbucks.
The expansion would see Harry’s locations in Orlando and Miami.