Java Republic Founder To Get €1.8 Million
Published on Dec 8 2014 11:09 AM in General Industry
David McKernan, the man who set up Java Republic in 1998, is going to get €1.8 million following the company's decision to give up its lease on a building he owns.
McKernan is still in possession of the company headquarters and roastery, and received €350,000 in rent in 2013. He also claimed €266,000 in patent fees from Java Republic, which last year had revenues of circa €12 million.
The firm has about 35 staff, and supplies over 1,200 outlets with tea and coffee. Its headquarters, which has its own café, was constructed six years ago at a cost of €6.5 million.