Thu, 03/01/2013 - 06:17
BaltCap has invested in Coffee Inn, the largest branded coffee shop chain in the Baltics.
Coffee Inn intends to invest up to EUR2m of debt and equity capital over the coming two years to finance the future growth of the business in Lithuania and other countries.
Coffee Inn was established in Vilnius in 2007 by a group of Lithuanian entrepreneurs. Today, the company operates 28 branded coffee shops and expects to have sales over EUR3m in 2012. Coffee Inn shops are located in Vilnius, Kaunas, Klaipeda, Palanga, Siauliai and Riga, Latvia.
Vygantas Maksele, the chief executive of Coffee Inn, says: “We are very pleased with having attracted BaltCap as new investor in Coffee Inn. With BaltCap’s financial and strategic backing, we are confident that the company will continue its strong growth in the coming years. Regional market for branded coffee bars is at a very exciting stage of its development and we should capitalize on this opportunity.”
"We believe that Coffee Inn has the strongest growth potential among local chains of branded coffee shops in the Baltics. We look forward to working with the competent management team of the company, who has demonstrated an impressive record over the last four years in both expanding the chain across Latvia and Lithuania and building highly loyal customer base," says Kornelijus Celutka, investment director at BaltCap.
This marks Lithuania SME Fund’s sixth investment. The fund has already invested into: Ygle, a building engineering systems solution and service provider; Impuls LTU, the largest health club operator in Lithuania; Labochema, a pan-Baltic laboratory supplies provider; Seimos Medicinos Klinika, a chain of primary care clinics; and YPlan, an event booking mobile app in London.
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