Pacific Coffee buyers put growth on menu

Chevalier iTech Holdings' Oscar Chow Vee-tsung (left) discusses expansion plans for the company's newly acquired Pacific Coffee chain with fellow executive director Norman Kan (right) and managing director P.K. Fung. They plan to more than double the number of stores to 100, from 44, over the next five years, and open their first outlet on the mainland this year. The company paid $205 million for 39 outlets in Hong Kong and five in Singapore earlier this month and said it had a cash reserve of $100 million to fund its expansion.