COBALT represents Reitan Convenience AS in acquiring Caffeine
2019 - 02 - 08
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. With the help of COBALT, the Lithuanian and Latvian Competition Authorities’ permits for the acquisition of Caffeine were obtained.
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 matters related to the transaction – legal review, transaction documentation, customer representation in negotiations, Lithuanian and Latvian Competition Authorities’ authorizations and all other necessary legal assistance. The project team consists of COBALT Lead Partner Dr Irmantas Norkus, Head of Competition Law Practice Group Rasa Zaščiurinskaitė, Managing Partner Dace Silava-Tomsone, Senior Lawyer Inga Mažvilaitė, Associate Lawyers Samanta Šereikaitė, Justinas Šileika and Ivo Maskalans.