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Client: Global Coffee

Global Coffee operates several flagship coffee shops under the brand LATE Café & Roastery
It prepares its own specialty coffee roasts and blends that are used in the drinks served in its locations, while also selling pre-packaged versions to retail clients

Ma Baker operates a chain of cafés throughout Sofia under the brand Café Ma Baker
It produces the full range of sweet and savoury pastries, sandwiches, cookies, cakes and more in-house and sells them both in-store and online

The Bulgarian café chain, Global Coffee, operating under the brand LATE, has been active in Sofia for several years exhibiting strong organic growth
Its owners wanted to explore other opportunities to scale their business, including through acquisitions
In the course of a strategic market review, Ma Baker was identified as one of the leading coffee shop operators in Sofia with significant growth potential and opportunities for synergies

Entrea Capital provided the following sell-side advisory services to Global Coffee:

Entire process management
Support in financial analysis and preparation of a detailed financial model including a pro-forma combination of the two businesses
Analysis of potential synergies and their financial effect on the combined company
Drafting of and assistance in negotiations on a non-binding offer
Execution of red-flag financial due diligence
Negotiation and structuring of financing for the acquisition
Assistance in SPA negotiations and transaction documents preparation