Ellex Valiunas has advised the shareholders of Caffeine on the sale of 100% of the company's shares to Norway's Reitan Convenience, which operates the Narvesen and Lietuvos Spauda chains of convenience stores and news agents in Lithuania. The buyer was represented by Cobalt.
According to Cobalt, "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," said Johannes Sangnes, head of Reitan Convenience AS. "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.“
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.
According to Cobalt, "BaltCap made investments in the Caffeine coffee shop chain in 2012. Since then, the chain has grown to more than 60 shops across Lithuania, Latvia, and Estonia."
Ellex’s team included Associate Partner Robertas Ciocys and Senior Associate Povilas Junevicius.
The Cobalt team was led by Managing Partner Irmantas Norkus and included Senior Associate Inga Mazvilaite.