The Coffee Bean & Tea Leaf Announces Expansion into the Philippines

The Coffee Bean & Tea Leaf, a Los Angeles based privately held specialty coffee and tea retailer, today announced plans for further expansion in the Southeast Asia market with an Area Development Agreement in the Philippines. The new partnership was signed with The Coffee Bean & Tea Leaf Philippines, Inc. to open a minimum of 22 branded stores in 5 years, with the concentration in the Manila area. The first stores are scheduled to open this spring.

The Coffee Bean & Tea Leaf Philippines Inc., lead by Walden Chu, managing director, comes with over 20 years food and beverage experience in the Philippine market. The company manages a diverse food and beverage portfolio, including a vested interest in Royal Sporting House Philippines Inc. and the master franchise for Hong Kong's Banana Leaf Curry House.

"We are very pleased to be able to bring an internationally-recognized brand to the Philippines," said Mr. Chu. "We are confident we will be able to create the same success that The Coffee Bean & Tea Leaf has in the U.S. and Asian markets. Both of our groups adhere to the same principle of delivering a total quality experience to our customers."

The Southeast Asia region is a cornerstone of The Coffee Bean & Tea Leaf international business with over 100 successful retail stores operating in Singapore, Malaysia, Indonesia, and Brunei. The Coffee Bean & Tea Leaf has become a market leader in this area since opening its first store in Singapore in 1996.

“We are proud of what we have accomplished in the Southeast Asia markets with all aspects of our business delivering solid results,” said Sunny Sassoon, Chief Executive Officer of The Coffee Bean & Tea Leaf. “The expansion into the Philippines is a logical step as our brand has had strong acceptance in the surrounding markets."

The Coffee Bean & Tea Leaf has maintained a strong celebrity following and a reputation for trend setting drinks that will bring Philippine customers an exciting new and different coffee house experience. The friendly non-corporate ‘home away from home’ approach begins with a passion for providing its customers with a total quality experience, in a warm comfortable atmosphere, amid an extensive line of premium coffees, teas and unique proprietary beverages, including the original Ice Blended®.

About The Coffee Bean & Tea Leaf:
Founded in 1963, The Coffee Bean & Tea Leaf is the oldest and largest privately held chain of specialty coffee and tea stores in the United States. With a reputation for excellence, the company is a leader in product innovations, having developed the Original Ice Blended®. The Coffee Bean & Tea Leaf serves over 30 million coffee and tea beverages annually worldwide. Providing the highest quality coffees and teas for forty years, The Coffee Bean & Tea Leaf currently has more than 200 stores in California, Arizona, Nevada, Singapore, Malaysia, Korea, Brunei, Indonesia, UAE, Israel, Australia, China and continues to expand both domestically and internationally. For more information visit www.coffeebean.com.