Good for Business, Latvia, Markets and Companies, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Monday, 18.11.2019, 09:30

Narvesen Baltija retailer to take over Coffee Inn

BC, Riga, 14.10.2019.Print version
A reorganization process is under way in which Narvesen Baltija retail company is taking over Coffee Inn, the owner of the Caffeine Roasters (Caffeine) cafe chain, according to an announcement published in the official gazette Latvijas Vestnesis on Monday, citing LETA.

Creditors now have a month to file their claims. 


In December 2018, the Competition Council gave permission to Reitan Convenience, the Norwegian owner of Narvesen Baltija, to acquire Coffee Inn


The Competition Council has concluded that the takeover will not weaken competition and will not lead to a dominant position on any of the Latvian markets in which the parties of the transaction are operating. 


Reitan Convenience purchased Caffeine Roasters from BaltCap equity fund, Lithuania SME Fund, which owned a 70.5% stake in Caffeine Roasters, as well as Lithuania's Keturi Kambarai, which owned the remaining 29.5% of Caffeine shares. 


The acquisition of the cafe chain was part of Reitan Convenience's strategy to reinforce its position in Europe as an operator of convenience stores.


Coffee Inn, established in 2010, has a share capital of EUR 2,845, according to information available at Firmas.lv. In 2018, Coffee Inn turned over EUR 2.592 mln and suffered a EUR 54,453 loss.


Narvesen Baltija, established in 1997, has a share capital of EUR 10.593 mln. In 2018, Narvesen Baltija turned over EUR 64.22 mln and made a EUR 1.579 mln profit.


Narvesen is a member of Reitan Group, which operates in Nordic and Baltic states under the brands of Narvesen, Pressbyran, R-kiosk and 7-Eleven






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