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Torino-headquartered Lavazza Coffee Shops Srl (LCS) has acquired 100 pct of the shares of Bulgarian Onda Coffee Break, operating 11 coffee shops in Sofia. The deal was officially concluded on Tuesday. Lavazza’s financial commitment, including acquisition of Onda and overall increase in planned investments for the next three years, is about EUR 6.0 mln.

The sellers are Global Finance Fund, who invested around EUR 2.0 mln in the company in 2005, and other shareholders with less equity.

"We intend to increase our presence in the countries, where the espresso segment has substantially increased, such as Bulgaria and Eastern Europe as a whole," said Marco Lavazza, development and acquisition manager of Lavazza Group.

Some of Onda’s rivals in the country are Starbucks, Costa Coffee, Coffee Heaven, McCafe, Coffee House, Coffee Republic, and Flocafé.