JAB-controlled Espresso House acquires Balzac Coffee
HAMBURG, GERMANY – Balzac Coffee, one of Germany’s leading coffee shop chains, this week announced it has entered into an agreement for Espresso House to acquire the company for an undisclosed sum.
Espresso House, the Nordic region’s largest branded coffee shop chain, is majority owned by JAB Holding Company following an acquisition in 2015 for a reported USD $328 million.
‘We are thrilled to have Balzac Coffee join our portfolio of leading premium coffee retailers across Europe,’ said John Nylen, CEO of Espresso House. ‘Together with Balzac’s accomplished management team, we are excited to serve as a strategic partner to accelerate the Company’s growth throughout the region.’
Balzac Coffee currently has 43 outlets across Germany and will continue to operate from its headquarters in Hamburg under the existing management team.
Klaus Droste, Chairman of Balzac Coffee’s Advisory Board and a major shareholder said: ‘We are very excited about this next chapter in Balzac’s rich history. Espresso House shares our deep commitment to hospitality and world-class coffee and espresso, and culturally will be the right fit for our company and our employees as we pursue further growth throughout Germany.’
This deal is one of a number of transactions within JAB Holding’s growing empire, which now includes Panera Bread, Peet’s Coffee & Tea, Caribou Coffee Company, and Keurig Green Mountain.