The terms of the transaction were not disclosed.
Palamon Capital Partners, one of Europe’s mid-market private equity firms, has agreed the sale of Espresso House to Herkules Private Equity III, a Norwegian private equity fund. The terms of the transaction were not disclosed.
In 2005, Palamon identified a gap in the Nordic markets for a quality, branded coffee bar offering and approached the founders of Espresso House about purchasing a majority interest and initiating a high-growth strategy.
Beginning with 22 outlets in the south of Sweden in 2006, Espresso House purchased a 15 store chain in Stockholm to create a national brand with 37 outlets.
From that base, the company embarked on an organic expansion plan which has taken it to 120 outlets across Sweden, making it the largest chain of wholly owned branded coffee bars in the Nordic region.
Source: Palamon Capital Partners
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