Kalve Coffee becomes a joint-stock company

Specialty or premium coffee roasting company AS Kalve Coffee (hereinafter - KALVE) announces the change of its legal form from a limited liability company (SIA) to a joint-stock company (AS), the establishment of a Supervisory Board, as well as an increase in the Company's share capital. The Company is thus actively preparing for its planned initial public offering (IPO).

"The reorganisation into a joint-stock company is one of the prerequisites we have implemented to prepare for the IPO. The anticipated IPO will allow us to raise additional financial resources to ensure further growth of the Company both in Latvia and abroad, offering sustainable, affordable, and high quality coffee to a wider range of people," says Gatis Zēmanis, co-founder and Chairman of the Board of AS Kalve Coffee.

While using a portion of the retained earnings from previous years, the Company's share capital has been increased from €25,000 to €100,000 and the Company's Supervisory Board has been established. Rūdolfs Strēlis has been appointed Chairman of the Supervisory Board, while a co-founder of the company, Jānis Andersons together with Justīne Lība Elferte will also serve on the Supervisory Board. Meanwhile, Jānis Zēgners has been appointed as a member of the Management Board and Chief Financial Officer.

Rūdolfs Strēlis is an experienced professional who has gained extensive expertise in customer experience, innovation, and fundraising management in organisations such as If Insurance, LMT, and the Ministry of Economics of the Republic of Latvia. Justīne Elferte specialises in organisational strategy, stakeholder management, and advocacy. She has worked at Longenesis, the Financial Intelligence Unit of Latvia, the Latvian Transatlantic Organisation among others. As a finance professional, Jānis Zēgners has gained experience working for Airbus as well as several start-up companies.

Desiring to become even more accessible to every coffee enthusiast and allowing them to participate directly in shaping our growth, in June 2024 KALVE announced plans to launch an initial public offering in the second half of this year and to raise at least one million euros.

In the first six months of 2024, KALVE has continued its growth momentum, with turnover up 40% and profit up 2.6 times compared to the same period last year.

About Kalve Coffee: 

Kalve Coffee is a specialty coffee roaster founded in 2019 by Gatis Zēmanis, Raimonds Selga and Jānis Andersons with an eye on what they want to leave for future generations. That's why KALVE works to leave a positive imprint on every action, so that it can create an emotionally fulfilling legacy for generations to come. The Company has proven that it can be profitable while changing the industry for the better by making decisions based on its core values. KALVE is the first company in the Baltics to be granted the B Corp Sustainability Certificate - the gold standard in ESG risk management, and in 2023 the Company received the "Latvian Sustainable Management Award" from the Bank of Latvia.

The Company has four cafe-stores in Riga, Latvia, and one in Germany. KALVE roasts its premium (or specialty) coffee at its roastery in Jaunmārupe, Latvia. The Company offers rental services and maintenance of coffee machines, coffee beans, and private labelling, and provides an e-commerce platform to buy coffee, allowing KALVE to be enjoyed from anywhere. 

 

Disclaimer: This communication is an unpaid marketing communication and does not constitute investment advice or an offer. The information contained herein contains general forward-looking statements about SIA Kalve Coffee’s intention to make a public offer of its shares.