News - 23.01.2014

Espresso House acquires attractive United Bakeries locations

(Oslo, 23 January 2014) Espresso House Norge AS has entered into an agreement with United Bakeries Holding AS to acquire 7 coffee shops in Oslo with effect from 31 January 2014. All 7 units are in prime locations with average turnover double the market average. During 12 months Espresso House has developed from scratch a leading coffee chain in Oslo in terms of revenues.

Espresso House is Sweden’s largest branded coffee shop chain with approximately 150 directly owned and operated coffee shops across the Nordic countries. The company has during the second half of 2013 expanded to Norway and opened 3 new coffee shops in Oslo. With 7 new prime locations in Oslo, in addition to other new locations signed, Espresso House will have approximately 15 coffee shops in Norway by the end of 2014.

Espresso House will strengthen its market presence in Norway through the acquisition. The acquired coffee shops will during the first half of 2014 be re-opened with the Espresso House concept, which is focused on high quality specialty coffee, a broad menu of warm and cold drinks, hot and cold food and bakery products. Espresso House has the ambition to create an exceptional customer experience in their coffee shops.

“Within a few months you can enjoy Espresso House’s high quality coffee at our more than 10 coffee shops. The acquisition of the 7 coffee shops will enable us to rapidly expand and become one of the leading coffee shop chains in Norway”, says Torodd Gøystdal, CEO of Espresso House Norge AS.

Torodd Gøysdal, CEO at Espresso House Norge
Telephone: +47 415 13 518

Sverre Flåskjer, Partner at Herkules Capital
Telephone: +47 22 04 80 09 /+47 48 11 04 66

Espresso House is Sweden’s largest branded coffee shop chain in terms of number of outlets and brand, with 146 directly owned and operated units across Eastern, Western and Southern Sweden. In Norway the company has 3 units in Oslo, all opened in the second half of 2013. The company has a leading position in Stockholm, Gothenburg and Malmö, and is focused on offering high quality specialty coffee, but offers also a broad menu of warm and cold drinks, hot and cold food and bakery products. Espresso House has about 1500 employees, all trained in house to become a barista. The company offers only Arabica single estate coffee, and all coffee shops are served by the company’s own bakery. You can find further information on

Herkules consists of three funds, with a total capital base of NOK 12.25 billion in committed capital from Norwegian and international investors. Herkules has the financial strength to acquire majority ownership positions in established companies with growth potential. Companies owned by Herkules funds are: Noratel, Micro Matic Norge, Tilbords, Hatteland Display, EFG European Furniture Group, Nevion, Estrella Maarud, Bandak, New Store Europe, Enoro, ODLO, Intelecom, Norsk Jernbanedrift, Helse Holding, Harding and Petroleum Technology Company.