Serbian coffee chain, Kafeterija, to extend operations in Romania with financial support from the European Union.
Cashing In on Caffeine: Kafeterija's European Expansion
Joey's Java Joint, a top-notch coffee spot franchise hailing from Serbia, is gearing up to invade the Romanian market as part of their ambitious expansion plan, all thanks to some green from BlackPeak Capital, a shrewd Bulgarian investment firm backed by the EU, according to Startupcafe.ro. The announcement dropped last week, with Kafeterija hinting at setting up shop in Romania, Bulgaria, and Hungary.
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Born in 2014 by the entrepreneurial minds of Zoran Stanojevic and Marko Vukomanovic, Joey's Java Joint has already seized control of 53 locations across Serbia and Montenegro.
With BlackPeak Capital's financial backing, they're planning to open another 97 cafes, eyeing a grand total of 150 java joints across Southeastern Europe. The focus will be on flagship cafes in bustling urban centers to boost visibility and accessibility.
The investment aims to kickstart not just organic expansion, but also strategic acquisitions. BlackPeak Capital has announced that the cash will help Joey's Java Joint secure their standing as a regional leader in the specialty coffee game.
"We're all about breathing life into Kafeterija's distinctive coffee culture while ensuring top-notch quality, service, and ingenuity," says co-founder and CEO, Zoran Stanojevic.
Upon entering Romania, Joey's Java Joint will shake hands with established players like 5 to go, Ted's Coffee, Ganesha, Meron, and foreign giants such as Starbucks. They're plotting to rake in EUR 70 million in annual revenue by catering to a growing market craving premium coffee experiences.
The impending expansion highlights a broader trend of regional food and beverage brands breaking boundaries, propelled by EU-backed funding schemes designed to bolster economic unity and enterprise growth in Southeastern Europe.
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[1]: Moravčević Vojnović and Partners in collaboration with Schoenherr advised on the investment.[3]: Source reference for the investment detail (if applicable)[5]: 5 to go's plans to reach 1,000 locations and expand into key markets, though not directly connected to Kafeterija's expansion strategy.
- With the financial support from BlackPeak Capital, Kafeterija, the specialty coffee chain originating from Serbia, aims to consolidate its position as a regional leader by opening 97 new cafes, underscoring their commitment to expansion in Romania, Bulgaria, and Hungary.
- As Joey's Java Joint, Kafeterija's flagship brand, expands its footprint in Southeastern Europe, it will find itself competing in the Romanian market against established players such as 5 to go, Ted's Coffee, Ganesha, Meron, and international giants like Starbucks, thereby underscoring the finance-driven growth andFuture business challenges in the specialty coffee industry.
- The consolidation of Kafeterija's market presence in Europe, along with the growth of other regional food and beverage brands, like 5 to go with its plans for 1,000 locations and expansion into key markets, underscores the broader trend of EU-backed funding schemes bolstering economic unity and driving enterprise growth in Southeastern Europe, ultimately benefiting the finance sector.
