Greater than 20 years after buying a 50% stake in Danish roasting firm Peter Larsen Kaffe, Swedish espresso roasting firm Löfbergs is buying a 100% stake.

Claus Bertelsen, the longtime CEO and co-owner of 123-year-old Peter Larsen Kaffe, bought his remaining shares within the firm, in line with an announcement from the corporate yesterday.

The monetary phrases of the acquisition weren’t publicly outlined, though the corporate mentioned Löfbergs “expanded its possession in line with a joint plan,” whereas Löfbergs plans to proceed to develop the Danish firm’s attain domestically.

Bertelsen’s household has been concerned in govt administration of Peter Larsen Kaffe for greater than 90 years, starting together with his maternal grandfather, Asmund Thorsen, in 1928.

Claus Bertelsen. Peter Larsen Kaffe press launch picture.

He turned CEO of the corporate in 2004, two years after Löfbergs acquired a 50% share. Peter Larsen Kaffe mentioned that its market share has elevated fivefold since Bertelsen’s appointment. Bertelsen plans to stay CEO by means of July of this 12 months.

“I in all probability have about 15 years left of my working life, so if I’m going to do one thing else, it’s now,” Bertelsen mentioned in an announcement translated from Danish. “That’s why now’s the best time for me to step down and promote my remaining shareholding. Peter Larsen Kaffe has been part of my complete life, and I’m pleased that Löfbergs shares my hope that the enterprise will proceed to be an necessary and valued a part of Danish espresso tradition sooner or later.”

One of many largest roasters within the Nordic international locations, Löfbergs opened a $227 million state-of-the-art roasting advanced in its headquarters of Karlstad in 2021.

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