Food franchise network, the Retail Food Group (RFG), has reached a conditional agreement to acquire the New Zealand master franchise business for the Esquires Coffee Houses.

Once formal contract documentation is executed, RFG will become the intellectual property owner, franchisor and licensor of the Esquire Coffee Houses system within Australia and New Zealand.

The company originated in Canada and was first established in New Zealand in 2001. While yet to be established in Australia, there are currently 46 Esquires outlets in New Zealand, making it the largest franchised coffee chain in the country.

Settlement of the acquisition is expected to take place in mid-February, 2011.