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Thursday, November 21, 2019

Acmero buys 40 percent stake in Shokoladnitsa

The Eurasian Development Bank (EDB) said last week that Acmero Capital, a Hong Kong-based investor, bought a 40 percent stake in Shokoladnitsa, a Russian cafe chain.

The  report said Acmero will consolidate the chain under one holding company. The chain encompasses over 500 locations that operate under the name Shokoladnitsa and Coffee House brands. The company also owns Babi Sabi and Asia Cafe, which are Japanese restaurants.

The EDB also said the Israeli Max Brenner confectionary network will be consolidated under this holding company. This network has two cafes operating in Moscow.

Shokoladnitsa bought the Coffee House brand in 2014. Prior to this acquisition, Coffee House was the company's main competitor in the country. After the acquisition, the number of locations increased to 650, the Moscow Times said. Its main competitors include Coffeeshop, Starbucks and Kofein.

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Eurasian Development Bank

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