The three founders and bosses of Tesco-backed coffee chain Harris + Hoole are stepping down from the business, Retail Week can reveal.
- Nick, Andrew and Laura Tolley to leave Harris + Hoole
- Siblings will focus on growing their other business, Taylor Street Baristas
- But it is thought the Tolleys will retain their 51% stake in Harris + Hoole
Chief executive Nick Tolley, coffee director Andrew Tolley and chief design officer Laura Tolley will all leave their roles to concentrate on expanding their other business, Taylor Street Baristas. However, it is understood they will retain their stakes in Harris + Hoole, totalling 51%.
The move follows speculation that Tesco could seek to sell off its 49% stake in the coffee chain as part of its ongoing portfolio review. It has already disposed of its Blinkbox service and is in talks to sell off data arm Dunnhumby.
Those rumours were sparked in March after Michael Holmes left his role as boss of Tesco’s new food businesses, which also include restaurant chain Giraffe.
But Tesco today insisted it would “continue to work” with Harris + Hoole’s new management team following the Tolleys’ departure.
“Our partnership with Tesco has enabled Harris + Hoole to develop a fantastic proposition for the high street and I’m very proud of where we leave the business today.”
Nick Tolley, Harris + Hoole
From next month, Nick Tolley will take up his role as chairman of Taylor Street Baristas on a full-time basis as it bids to expand internationally.
Co-founders Laura and Andrew will also turn their attentions to Taylor Street Baristas on a full time basis, with the latter taking on the role as head of coffee at the business, which was set up in 2008.
Following their departures next month, Harris + Hoole, which has 46 stores, will be led by its management team of operations director Colin Bell, people director Charlie Glynn, head of coffee Jochem Verheijen and chief financial officer Richard Harpham.
The Tolley siblings started Harris + Hoole three years ago, with their existing business Taylor Street Baristas acting as joint venture partners with Tesco. Retail Week understands both parties’ shareholdings in the joint venture will remain unchanged at this point in time.
‘Right time’ to depart
Harris + Hoole co-founder and chief executive Nick Tolley said: “I’m incredibly proud of what Harris + Hoole has achieved in just three years, from a standing start to 46 stores and a team of more than 500 fantastic people whom I’ve hugely enjoyed working with.
“At the same time that Harris + Hoole has been growing, Taylor Street Baristas, the first coffee business I founded with my brother and sister, has also been going from strength to strength.
“Amongst other things, we’ll be opening the first Taylor Street Baristas store in New York later this year, so it feels like the right time for me and my siblings to return to focusing on Taylor Street Baristas, leaving the excellent Harris + Hoole management team in charge.
“Our partnership with Tesco has enabled Harris + Hoole to develop a fantastic proposition for the high street and I’m very proud of where we leave the business today.”
‘Exciting brand’
A Tesco spokesman added: “We’d like to thank the Tolleys for all their hard work in making Harris + Hoole the popular, exciting brand it is today.
“We have worked successfully with Nick, Andrew, Laura and the Harris + Hoole team since investing in the business three years ago and its clear customers have come to love the service, experience and high quality coffee the brand offers.
“We will continue to work in partnership with the management board and look forward to the business progressing in the future.”
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