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| Whitbread buys Coffee Nation vending machines | Whitbread buys Coffee Nation vending machines |
| (40 minutes later) | |
| Hotel and restaurant group Whitbread has bought the Coffee Nation brand with a view to launching self-service coffee machines under the name Costa Express. | |
| Whitbread, which already owns Costa Coffee, is paying £59.5m for the brand, which operates 900 coffee machines. | Whitbread, which already owns Costa Coffee, is paying £59.5m for the brand, which operates 900 coffee machines. |
| The group said it would aim to open 3,000 Costa Express vending machines across the UK over the next five years. | The group said it would aim to open 3,000 Costa Express vending machines across the UK over the next five years. |
| However, Whitbread shares fell 5% after it reported slower sales growth at its Premier Inn hotel chain. | However, Whitbread shares fell 5% after it reported slower sales growth at its Premier Inn hotel chain. |
| Sales at hotels which have been open for more than a year grew by 5.1% in the quarter to 17 February, compared with a year earlier. During the previous quarter, sales had grown by 8.7%. | Sales at hotels which have been open for more than a year grew by 5.1% in the quarter to 17 February, compared with a year earlier. During the previous quarter, sales had grown by 8.7%. |
| For the Whitbread group as a whole, like-for-like sales rose by 3.9% against a year earlier. Total group sales rose 12.4%. | For the Whitbread group as a whole, like-for-like sales rose by 3.9% against a year earlier. Total group sales rose 12.4%. |
| "Our businesses have traded well during the tough recessionary period and we're confident that we will continue to deliver a good relative performance," said Whitbread chief executive Andy Harrison. Harrison. | "Our businesses have traded well during the tough recessionary period and we're confident that we will continue to deliver a good relative performance," said Whitbread chief executive Andy Harrison. Harrison. |
| But he warned that the group was "expecting a continuation of the difficult consumer environment that we saw last year". | But he warned that the group was "expecting a continuation of the difficult consumer environment that we saw last year". |
| New market | New market |
| Whitbread said Coffee Nation "self-serve bars" were "fundamentally different" from traditional hot drink vending machines because they used fresh milk and freshly-ground coffee. | Whitbread said Coffee Nation "self-serve bars" were "fundamentally different" from traditional hot drink vending machines because they used fresh milk and freshly-ground coffee. |
| "Customers increasingly want great tasting coffee on the go, which makes the self-serve coffee market very attractive," said Mr Harrison. | "Customers increasingly want great tasting coffee on the go, which makes the self-serve coffee market very attractive," said Mr Harrison. |
| Costa Coffee has 1,850 outlets around the world, with 1,200 in the UK. | Costa Coffee has 1,850 outlets around the world, with 1,200 in the UK. |
| Whitbread also owns the Premier Inn hotel chain and Beefeater restaurants. | Whitbread also owns the Premier Inn hotel chain and Beefeater restaurants. |