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Latvian coffee producer Melna kafija taken over by Sweden's Lofbergs Lila
Nina Kolyako, BC, Riga, 21.09.2010.
Print version
Print versionThe Latvian coffee producer Melna kafija has been taken over by the Swedish firm Lofbergs Lila, according to the Dienas Bizness newspaper. Until now, Latvia's largest coffee producer has belonged to Icelandic company Kaffi Holding ehf.
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This is perhaps the first large-scale deal in Latvia this year which is not related to the crisis, and which involves the attraction of a significant strategic investor, writes LETA.
Lofbergs Lila is one of the largest and oldest coffee producers in Sweden, where the company supplies 30 percent of the HoReCa segment (hotels, restaurants and cafes), as well as 20% of the coffee retail market.
Although the sum of the deal has not been made public, financial experts estimate that with a turnover of around LVL five million and a profit of LVL 300,000 last year, Melna kafija could have been sold for around EUR five million (LVL 3.5 million).
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