COBALT advised the leading dedicated private equity and venture capital investor in the Baltic States BaltCap on the investment in the Lithuanian company Keturi Kambariai, the owner of the coffee shop chain Coffee Inn. The fund acquired 45,26 per cent of shares in Keturi Kambariai.
Coffee Inn operates 22 branded coffee shops in Lithuania and 5 coffee shops in Latvia. Some of the coffee shops operate under franchise agreements. Currently Coffee Inn has the strongest growth potential among local chains of branded coffee shops in the Baltics.
In 2010 the European Investment Fund (EIF) selected BaltCap to manage new venture capital funds dedicated to investing in SMEs in Latvia and Lithuania under the JEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative. Lithuania SME Fund will invest EUR 20 million in 7 to 15 Lithuanian companies.
COBALT work included negotiations, preparation of transaction documents and due diligence. The transaction was led by Dr Juozas Rimas, Managing Associate.