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Denmark's Baresso coffee chain up for sale

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Denmark's Baresso coffee chain up for sale
12:52 CET+01:00
Danish ‘coffee king' Kenneth Luciani has put his Baresso chain up for sale, hoping to draw bids in the “hundreds of millions” of Danish kroner, Finans newspaper has reported, citing multiple sources.
Luciani has built Baresso into Denmark’s most well-known chain since its launch in 2000, with branches in some of the country’s most high-profile locations, and a gross profit  last year of over 100m kroner. 
 
According to Finans, Danish investment bank Carnegie has won the mandate to manage the sale, which is expected to draw in private equity, as well as bidders from the big international chains. 
 
In January this year, IK, the Nordic private equity company founded by Swede Björn Savén, bought and merged Løgismose and Meyer, two Danish high-end food brands, indicating the interest private equity has in the sector. 
 
US coffee giant Starbucks, which operates ten cafés in Denmark, rates the country as “a market of great importance”, pointing out that Danes rank fourth worldwide in terms of how much coffee they drink. 
 
Copenhagen is also amongst the world’s most expensive places to buy a cup of coffee.  
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