Beverage group Kofola (BCSE: KOFOL) has acquired a 52% majority stake in the Ostrava-based specialty coffee chain CØKAFE, according to an official corporate announcement. The transaction, whose financial terms remain undisclosed, marks the final phase of Kofola’s supply-chain integration strategy, connecting its agricultural assets in Latin America directly to the consumer’s cup.
The Bottom Line
- Strategic Integration: The acquisition of CØKAFE completes Kofola’s farm-to-cup vertical integration, bridging its plantations and roasting operations with direct retail service.
- Financial Momentum: Kofola reported Q1 2026 revenue of takmer 99 miliónov eur (approximately 98.8 million euros), representing a medziročne increase.
- Guidance Reaffirmed: Management maintains its full-year 2026 EBITDA target between 1,8 až 1,9 miliardy korún, supported by organic growth and stabilizing input costs.
Closing the Farm-to-Cup Supply Chain
Kofola’s journey into the coffee sector began in 2023. The group initially acquired a stake in a Colombian farm before shifting its operational focus to Panama, where it secured the Taylor Papa Lalo family farm in the Boquete region beneath the Barú volcano. To retain processing oversight, the group established a dedicated roasting facility in Strážnice, South Moravia. With the addition of CØKAFE, the firm gains a direct retail footprint to complement its upstream production.
Richard Mauler, founder of CØKAFE, will remain a co-owner and active participant in the brand’s strategic trajectory. “I didn’t want to find someone to whom we sell CØKAFE and leave,” Mauler stated regarding the partnership. “I was looking for a partner with whom we can push the brand further.” The deal reinforces Kofola’s broader gastronomy pillar, which already includes the UGO freshbar and salad restaurant network, traditional pubs, and craft spirit concepts developed across its overseas operations.
Latin American Expansion and Q1 2026 Financials
The CØKAFE acquisition follows a larger international transaction completed in May 2026, when Kofola acquired a 49% stake in Panama-based Alta Fermentación. That entity operates three craft breweries—including La Rana Dorada in Panama, Pola del Pub in Colombia, and Sinners in Ecuador—alongside a coffee roaster, a rum distillery, and a network of nearly 40 hospitality venues. Alta Fermentación generates an annual EBITDA of 4 million US dollars, equivalent to approximately 3.4 million euros at European Central Bank exchange rates.
These capital allocations coincide with improving financial metrics for the parent group. In the first quarter of 2026, Kofola’s revenues expanded 13.7% year-over-year to 2.38 billion Czech crowns (98.8 million euros). Operating EBITDA climbed 15.2% to 187.4 million crowns (7.8 million euros). Organic revenue growth within the core non-alcoholic segment across the Czech and Slovak markets approached 10%, aided by the gradual recovery of the Slovak market following the implementation of local sugar taxation.
Comparative Q1 Performance Metrics
| Financial Metric (Q1 2026) | Amount (CZK) | Approximate Amount (EUR) | YoY Change / Notes |
|---|---|---|---|
| Group Revenues | 2.38 Billion CZK | 98.8 Million € | +13.7% YoY |
| Operating EBITDA | 187.4 Million CZK | 7.8 Million € | +15.2% YoY |
| Alta Fermentación Annual EBITDA | 3.4 Million € | Generated via 3 breweries, roastery, and distillery | |
| Full-Year 2026 EBITDA Target | 1.8 – 1.9 Billion CZK | 74.7 – 78.9 Million € | Target growth rate of 10% YoY |
Outlook and Regional Integration
Kofola’s domestic operations continue to anchor its baseline cash flow. Production facilities in Rajecká Lesná, Slovakia—responsible for brands such as Rajec, Vinea, and Kláštorná Kalcia—saw ongoing infrastructure investments with the construction of a new storage hall during the first quarter. Meanwhile, local acquisitions such as ASO Vending, a Slovak operator of beverage and snack vending machines, contributed positively to quarterly group revenues alongside the Czech enterprise Nobilis Tilia.
Looking ahead, Chief Financial Officer Martin Pisklák maintains a disciplined stance on capital expenditures and operating margins. Management projects full-year 2026 EBITDA between 1.8 and 1.9 billion Czech crowns (74.7 to 78.9 million euros). Whether CØKAFE will expand beyond its regional footprint into wider national markets remains dependent on phased implementation plans, as executives prioritize sustainable integration of the brand’s production and design expertise into the group’s broader retail portfolio.
