Insomnia perks up with purchase

COFFEE bar chain Insomnia has snapped up the six Perk shops in Dublin for around €1 million.

The move is the second acquisition by Insomnia, which is backed by the Hughes & Hughes bookshop founder Derek Hughes and retailer John Clohisey.

It snapped up the Bendini & Shaw sandwich business two years ago.

Perk has three outlets in Dublin city centre and a further three at University College Dublin. Insomnia plans to open four new outlets by the end of this year in a €1 million expansion, including a new store in Dundalk. When combined with Perk, it will have 22 outlets by next year.

The combined group, which specialises in gourmet coffee and handmade sandwiches, will employ 130 people and it will sell more than 1.7 million cups of coffee and 750,000 sandwiches a year.

Insomnia’s chief executive Harry O’ Kelly said he expected turnover to more than double to €10 million next year.

He said the takeover represents the “inevitable consolidation” within the industry and creates a strong indigenous Irish coffee and sandwich chain which will be in a better position to take on both national and international competitors.