BaltCap is to acquire Baltic operations of vending and coffee services company Selecta Group
BaltCap Private Equity Fund II managed by BaltCap has signed an agreement to buy the business operations serving the local markets in the Baltic States from European vending and coffee services company Selecta Group. The Estonian, Latvian and Lithuanian businesses altogether employ about 75 people and generate net sales in excess of € 10 million.
“BaltCap considers Selecta’s Baltic businesses as very successfully managed entities with a fully committed and experienced staff delivering excellent client satisfaction and outstanding results,” says Sandijs Abolins-Abols, Partner of BaltCap. “Thus, we are excited to enter the business that will serve as a solid base for pursuing business opportunities that exist in the Baltic markets.”
“We have been impressed by Baltcap’s knowledge of the Baltic business specificities and ability to develop its portfolio companies. We believe our Estonian, Latvian and Lithuanian businesses will have the ideal new owner to support a continued solid, sustainable and profitable business development,” says David Flochel, CEO of the Selecta Group.
The transaction is subject to the approval of the Competition Authorities. The parties have agreed not to disclose the transaction price.
About BaltCap Private Equity Fund II
BaltCap Private Equity Fund II (BPEF II) was established by BaltCap in cooperation with the European Investment Fund (EIF) involved in the project through the Baltic Innovation Fund (BIF). The BIF is an initiative created by cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania and EIF. Investors also include European Bank for Reconstruction and Development (EBRD) and Baltic pension funds managed by Swedbank and SEB Wealth Management as well as LHV Asset Management and fund managers of Danske Capital. The fund invests in small and medium-sized enterprises and capital expansion in the Baltic countries. For further information, please visit BaltCap’s website at www.baltcap.com.
About Selecta Group
Selecta is a leading vending and coffee services company in Europe with a turnover of about € 736 million (for the twelve months ended 30 September 2016) and employing approximately 4,100 people. Founded in 1957 and headquartered in Switzerland, Selecta has grown its geographic market presence to 15 countries across Europe. Selecta serves 6 million consumers every day at its 137,000 point of sales addressing the growing need for out of home food and beverage services at the workplace and on the go. Selecta is putting a strong focus on improving the coffee experience at workplaces through an exclusive partnership with Starbucks as well as by offering a full range of high quality coffee blends such as Selecta’s own miofino brand. In addition, Selecta offers state of the art coffee machines, which are serviced by its own highly professional service organization. Selecta’s Swiss roots stand for service excellence, high quality product offering and innovative concepts for out of home food and beverage services. For further information, please visit Selecta’s website at www.selecta.com.