The founder of coffee shop chain TED's Coffee has initiated exploratory talks with several investment funds to sell a 30%-60% stake and later launch an aggressive expansion plan, according to Profit.ro.

"The goal is to accelerate the expansion. We are discussing several options for giving away between 30 and 60% of the business. We are in negotiations," the company's owner, Andri Vaseica, said.

The TED's chain will reach 67-68 units by the end of the year, of which about 35% are franchised and the rest are owned by the company. The company expects its turnover to rise 30% y/y to EUR 10 mln in 2024 and sustain similar growth rates in the coming years.

The chain would reach 100 units by the end of 2026, according to the current plans disclosed by the TED's Coffee founder.

The plan discussed with the investment funds provides for the network to reach, depending on the market context, a total of 300 units in 5 years, according to sources familiar with the talks consulted by Profit.ro. Expansion outside the country is envisaged as well.

"I would like to increase the network. It's a good context, we don't have an outside competitor yet, the market is uncovered, there are commercial spaces available. So it's a good context to press the accelerator," said TED's Coffee founder Vasi Andreica, quoted by Profit.ro.

iulian@romania-insider.com

(Photo source: LCVA/Dreamstime.com)