BUCHAREST (Romania), December 20 (SeeNews) - Vienna-based investment firm Accession Capital Partners (ACP) and Bulgarian peer Invenio Partners have jointly acquired a 60% stake in Romanian coffee chain franchise 5 to go, the latter said.
"The new partnership supports both the international expansion of 5 to go, aiming to access several new countries with significant potential, and the strengthening of its position in the local market, where 5 to go's development map exceeds 150 cities and a network of 300 franchisees," 5 to go said in a press release on Wednesday, without disclosing the value of the transaction.
Following the acquisition, 5 to go co-founders Radu Savopol and Lucian Badila retained a 25% stake among themselves and will continue to lead the company, as per the press release. A 5% stake remained with Romanian businessman Andrei Alecu, while private equity firm Mozaik Investments, which previously owned a 35% shareholding in the coffee chain, will retain a 10% stake.
"I am looking forward to reaching the milestone of 1000 locations in Romania in the coming years, and entering new foreign markets will make from 5 to go one of the most relevant players in the industry in which we operate," Badila said.
The new partnership will offer the Romanian coffee chain franchise access to new regional markets in Southeast Europe and to large Romanian communities in countries such as Spain, France, Germany, the UK, and Ireland, which represent strategic opportunities for franchise development, 5 to go said.
The 5 to go brand was launched in 2015 and claims to be the largest chain of coffee shops in Eastern Europe and the most accessed franchise in Romania. This year, the company surpassed 600 locations.
ACP, formerly known as Mezzanine Management, is investing from its fifth fund, AMC V SCA SCA SICAV-RAIF, which was launched in 2023. ACP has been active in Central and Eastern Europe since 2000 through its offices in Vienna, Warsaw, Bucharest, Budapest and Prague.
Invenio Partners manages two private equity and growth equity funds, including the Invenio Partners Fund II SCSP focused on investments in Southeast Europe.