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Friday, 26.04.2024, 06:11
BaltCap Growth Fund invests in KOOL petrol station and convenience store chain in Latvia
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KOOL is a new
innovative brand in the Latvian petroleum retail market with a fresh and
contemporary concept. KOOL's strategy
relies heavily on competitive pricing as well as a premium customer experience,
by offering carefully selected and locally sourced foods. Since launch, KOOL has attracted over 7.5 mln euros funding
from the various local entrepreneurs as well as private and institutional
investors.
“We have been following KOOL's
development closely since its launch and are impressed by the high-performance
management team as well as the effectiveness of the concept itself. We believe KOOL has strong grounds to become a
significant player in the Latvian petroleum retail market by becoming a
credible local alternative to the large foreign players,” – says Martins
Jaunarajs, BaltCap Growth Fund's partner.
“We are very pleased that the leading investor in the Baltics has highly
evaluated KOOL's concept and decided
to invest in us. The investment will help us further develop the KOOL chain by opening more than 10 additional
petrol stations and convenience stores by the end of 2019. We are convinced
that KOOL will be a very competitive
player in the market, which has been already proved by existing petrol station
performance results and consumers loyalty,” – says Sandis Steins, the
board member of KOOL Latvija.
Callidus Capital LLC acted as an exclusive financial advisor,
assisting KOOL in all aspects of
fundraising since 2016.
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