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Spot Coffee considers Buffalo expansion

by James Fink

Spot Coffee Canada Ltd. said its expansion plans, which may include at least two more outlets in the immediate Buffalo Niagara region, will likely be fueled by a $3 million private placement offering.

According to documents issued to the Toronto Stock Exchange, Spot Coffee will be using the funds to help underwrite the opening of a new location in Del Ray Beach, Fla. - the sixth in its portfolio - and the creation of a central kitchen operations center in Toronto. The Del Ray Beach outlet is due to open next spring.

Spot’s offering package said the company hopes to open four more outlets — two in the Buffalo Niagara region and two in Toronto. Spot has three Buffalo area stores, one in Rochester and one in Toronto.