‘Coffee House’ Network Put Up for Sale

The Ukrainian subdivision of the largest Russian cafe network Coffee House is up for sale, one of the Kyiv restaurant owners told LIGA.net.

He said that the owners expect to receive about $3 million for the network. The co-owner and managing director of Coffee House Ukraine Svitlana Shykulova confirmed the plans to sell the company: "This business was established to be sold from the get-go. We have had many potential buyers approach us about this."

Coffee House is a Russian network that was established in 1999 by the businessman Timur Hairutdinov. The company has been in Ukraine for 10 years and owns 17 cafes. In 2014, the Russian part of the network was purchased by a competitor, Shokoladnitsa. However, the Ukrainian cafes were not part of the deal because of the ownership structure.

Source: Ekonomichna Pravda