70 Percent Stake in EspressoLab Sold to UAE-Based Mir Group
An agreement has been signed for the transfer of a 70 percent stake in Eslap, the parent company of Turkey's well-known coffee chain EspressoLab, to the United Arab Emirates-based Mir Group.
It has been reported that an agreement has been signed to sell a 70 percent stake in Eslap, the owner of Turkey's leading coffee chain EspressoLab, to the United Arab Emirates-based Mir Group.
Share Transfer and Details of the Agreement
The United Arab Emirates-based Mir Group has signed a formal agreement to acquire 70 percent of the capital of Eslap, the owner of EspressoLab.
Status of Current Partners and Approval Process
Within the scope of the agreement, Eslap's founders and current shareholders will continue to hold a 30 percent stake in the company.
For this transfer transaction to become official, approval is awaited from the relevant regulatory authorities in Turkey and the United Arab Emirates.
Wide Global Operational Network
Founded in 2014, EspressoLab currently operates in 21 different countries and serves through a total of more than 400 branches.
The chain's branches are located in many geographies including Turkey, Egypt, Qatar, Germany, Jordan, Morocco, and South Africa.
First International Step Following Stock Exchange Listing
This strategic transaction carried out by the Mir Group marks the group's first international acquisition since it began trading on the Abu Dhabi Securities Exchange at the end of 2024.