Norwegian investor Reitan Convenience has signed an agreement to acquire Caffeine Roasters, a coffee chain currently operating 60 coffee houses in Estonia, Latvia and Lithuania. The acquisition is part of Reitan Convenience’ vision of becoming Europe’s largest convenience operator.

– Caffeine Roasters 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 further, we are looking for opportunities to expand Caffeine Roasters to other countries, Johannes Sangnes says, CEO at Reitan Convenience.

Caffeine Roasters was established in 2007 in Vilnius. The chain currently operates 60 coffee shops in Estonia, Latvia and Lithuania, which makes Caffeine Roasters the largest coffee chain in the Baltics.

– We are very pleased to be part of the Reitan Convenience team. Together we will take our strong brand and concept to new markets. Reitan Convenience is a professional and long-term owner, which has already been very successful in other segments of the Baltic convenience market, Nidas Kiuberis says, Head of Coffee and Communications at Caffeine.

With its 531 stores, and well-known concepts such as Narvesen, R-kiosk and Lietuvos Spauda, Reitan Convenience already has a strong position in the Baltics.

– The acquisition of Caffeine Roasters is a natural next step for us and will strengthen our presence in the Baltics. This is a part of our vision of becoming the largest convenience retailer in Europe, Sangnes says.

The acquisition is dependent on approval from local competition authorities.

About The Reitan Group
The Reitan Group consists of five independent business units: REMA 1000, Reitan Convenience, the Uno-X Group, Reitan Property and Reitan Capital. The Reitan Group had a turnover in 2017 (including franchise sales) of NOK 89 billion, and employs 37,000 people in Scandinavia and the Baltic region.

Reitan Convenience has 2,250 stores in seven countries, including Narvesen in Norway, Latvia and Lithuania, 7-Eleven in Norway, Sweden and Denmark, Northland in Norway, Pressbyrån in Sweden, R-kioski in Finland, R-kiosk in Estonia, and Lietuvos Spauda in Lithuania.

About Caffeine Roasters
Caffeine Roasters was established in 2007 in Vilnius. The chain has 60 coffee chops in Estonia, Latvia and Lithuania in total.

Source: news.cision.com