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Friday, 26.04.2024, 15:32
Narvesen Baltija retailer to take over Coffee Inn
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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.
«The Baltic Course» Is Sold and Stays in Business!
