The Lithuanian Competition Council gave the green light for BaltCap's Lithuania SME Fund to buy 45.26 percent of shares in Keturi Kambariai, the owner of the chain, Coffee Inn said in a press release on Thursday.
Keturi Kambariai is planning to invest 7 million litas (EUR 2m) in business expansion within the next two years, it said.
"We believe that Coffee Inn has the greatest growth potential, compared with other take-away coffee chains in the Baltic countries. It is a strong brand in Lithuania and its position in Latvia is growing stronger," BaltCap Investment Director Kornelijus Celutka said in a press release.
Coffee Inn currently has 28 coffee shops in Lithuania and Latvia.
Keturi Kambariai's revenues increased by 27 percent last year compared with 2010 to 5.7 million litas. The company's profit fell by 33 percent to 200,000 litas.
