Mair Group of the United Arab Emirates (UAE) has signed an agreement to acquire a 70% stake in Eslab, the owner of Türkiye's leading coffee chain Espressolab, reports said Friday.
That would be the group's first international acquisition since it began trading on the Abu Dhabi Securities Exchange in late 2024.
Under the agreement, Espressolab's founders and existing shareholders will retain a 30% stake in the company and continue to be involved in its growth and development, a report by the private broadcaster CNBC-e said.
The financial terms of the transaction were not disclosed.
The deal has yet to close, with the share transfer subject to regulatory approvals in the relevant jurisdictions and the fulfilment of other closing conditions.
Espressolab CEO Esat Kocadağ said the partnership with Mair Group represented an important next step in the coffee chain's international expansion.
"Together, we aim to strengthen our franchise network, invest in the brand and customer experience and expand in existing and new markets while preserving the identity and entrepreneurial culture that define Espressolab," Kocadağ said, according to the report.
Mair Group Managing Director and Group CEO Nehayan Hamad Alameri said the transaction would diversify the group's investment portfolio beyond its core retail and commercial real estate operations in the UAE.
The deal would bring together Espressolab's international reach and brand capabilities with Mair Group's investment and organizational resources, he said.
Alameri said they look forward to partnering with Espressolab's founders and management team to support the company's continued growth in Türkiye and international markets, while creating long-term value for their shareholders.
As of this August, Espressolab operated a network of more than 400 cafes across 21 countries. More than 310 of its outlets are in Türkiye, where the chain has a presence in more than 50 cities.
Founded in 2014, Eslab operates the Espressolab brand as well as coffee sourcing and roasting, product procurement, franchise licensing, and retail and digital sales activities.
Mair Group is a strategic investment company based in Abu Dhabi and listed on the Abu Dhabi Securities Exchange. It invests across several sectors, primarily retail and commercial real estate.
Its portfolio includes Abu Dhabi Cooperative Society (Adcop), the Spar supermarket chain and the Makani Real Estate property portfolio.