Herkules III sells Espresso House

Herkules III has entered into an agreement to sell leading Nordic coffee shop chain Espresso House.

Espresso House’s concept is focusing on high quality specialty coffee, and a broad menu of warm and cold drinks, hot and cold food, and bakery products served in nice and charming coffee shops. Espresso House has about 1,900 employees, all trained in house to become baristas. The company offers only Arabica single estate coffee, and all coffee shops are served by the company’s own bakery. In 2014, the company reported revenues of SEK 937 million with an EBITDA margin of 15%, and passed 1 billion SEK in LTM turnover in April 2015. Herkules III acquired Espresso House in 2012, and the company’s sales and EBITDA has more than doubled during Herkules’ ownership.

SPEAS has made an investment commitment of NOK 100m to the private equity fund Herkules III.

View the press release from Herkules Capital here