COBALT advises the Norwegian company Reitan Convenience AS in its acquisition of 100% of shares in the coffee shop chain Caffeine from BaltCap and the founders of the company "Four Rooms". In the Baltics, the Reitan group of companies also manages the retail chains Narvesen, R-kiosk and Lietuvos spauda. The deal will still have to obtain competition clearance.
The coffee shop chain Caffeine was founded by four Lithuanian entrepreneurs in 2007 who will continue to manage the company after the close of the transaction.
“Caffeine is one of the strongest coffee shop brands in the Baltics and is known for its quality coffee and excellent service. The company’s coffee shops are located at the best locations in the largest cities. We are planning to grow our business in the Baltics, and believe that Caffeine will give us new opportunities for expansion in other countries“, said Johannes Sangnes, head of Reitan Convenience AS.
The Reitan Group consists of five business units: REMA 1000, Reitan Convenience, the Uno-X Group, Reitan Properties and Reitan Capital. The turnover of the Norwegian group of companies, which employs 37,000 people, exceeds EUR 9 billion. Reitan Convenience has 2,250 stores in seven countries (Lithuania, Latvia, Estonia, Finland, Norway, Sweden and Denmark) where it operates Narvesen, 7 Eleven, Northland, Pressbyran, R-kioski, "R-kiosk" and "Lietuvos spauda".
BaltCap made investments in the Caffeine coffee shop chain in 2012. Since then, the chain has grown rapidly to more than 60 shops across Lithuania, Latvia and Estonia.
COBALT represents Reitan Convenience AS in all transaction-related matters, it has conducted legal due diligence, prepared transaction documents, represented the client in negotiations, coordinates communication with competition authorities and provides all other necessary legal assistance. The project is led by Dr Irmantas Norkus, Managing Partner of COBALT, and by Inga Mažvilaitė, senior associate.