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NEWS - 2019 03 01 - 09:55

SEB lends EUR 6.5 million to Baltic Coffee Holding

SEB Latvia has approved a EUR 6.5 million long-term loan for the Latvian company Baltic Coffee Holding to finance the acquisition of the Lithuanian company UAB Pardavimo Automatai. The purpose of this deal is to strengthen the market positions of Baltic Coffee Holding and its subsidiary companies in Lithuania and the Baltic market.

Baltic Coffee Holding, which owns SIA Coffee Address, UAB Coffee Address and OU Coffee Address, is in the business of selling, renting and servicing of coffee machines and vending machines. Baltic Coffee Holding is the market leader in Baltics in its business niche.

The business of the Lithuanian company Pardavimo Automatai is related to renting and servicing vending machines and coffee machines.

Viktorija Meikšāne, CEO of Baltic Coffee Holding: "Acquisition of Pardavimo Automatai is another step forward towards reaching our strategic goals: being the undisputed leader in the Baltic market in the area of sales and service of coffee machines. It is a growing market, because increasingly more people in the Baltic region appreciate good coffee and consuming it becomes a part of their daily life. We are thankful for SEB's trust in our business strategy and their professionalism which we have also seen during our previous common projects."

Ints Krasts, board member of SEB Latvia: "Shareholder of Baltic Coffee Holding BaltCap is one of the most professional investors in our region, and we have a long history of successful cooperation. If we compare the coffee consumption in Baltics with, for instance, Scandinavian countries, the growth potential of this business becomes very apparent. Therefore we have no doubt that Baltic Coffee Holding has the right business strategy and we are glad that they have chosen SEB Latvia as their financial partner in developing their business in Baltics."

In 2017 SEB also financed BaltCap's acquisition of European company's Selecta business in Baltics. Baltic Coffee Holding operates in the Baltic market under the brand Coffee Address.

BaltCap is a private and risk capital investment company which focuses in investing in companies with a large potential for growth and provides them with necessary tools to reach their targets.

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