European Roll-Up Market Report – July 2026

This month’s case study:  Kafeterija – On its way to Europe’s leading coffee platform

Founded in 2014 in Belgrad, USA, Kafeterija is a coffee shop that offers customers a wide range of coffee, confectionary items, and machine products.

Backed by BlackPeak Kafeterija has started an active buy-and-build strategy, announcing 2 acquisitions in 2026.

Its latest move came in July 2026, with the acquisition of Eddy’s (founded in Sofia, Bulgaria). Eddy’s is a modern bakery and pizzeria chain known for crafting high-quality Italian-inspired food and freshly roasted coffee.

Kafeterija is a Serbian, vertically integrated specialty coffee chain backed by BlackPeak Capital. It is pursuing a buy-and-build plan toward 120 locations and €70m in annual revenue across Southeast Europe, combining organic openings with targeted acquisitions in neighbouring markets.

Buy and build: Kafeterija’s strategy to build east Europe’s leading coffee platform

On July 23rd 2026 Kafeterija, backed by BlackPeak Capital, acquired a 70% stake in Bulgarian coffee & food brand Eddy’s — its first acquisition outside Serbia. Structured via the new entity Edis Kafeterija, the deal marks Kafeterija’s entry into Bulgaria; Eddy’s founders Edgar Yegiazaryan and Maria Mihaylova retain the remaining 30%. Eddy’s adds Sofia locations and a central commissary kitchen in Ravno Pole, broadening the group’s reach across the Balkans

Case study:

• In 2014, Kafeterija was founded by Zoran Stanojević and Marko Vukomanović in Belgrade, Serbia, as a vertically integrated specialty coffee chain with its own roastery, building the foundation for a regional specialty coffee platform.

• Since 2025, Kafeterija has pursued an acquisition-led growth strategy, taking on a €5m investment from BlackPeak Capital (its first Serbian deal) and setting out a buy-and-build programme toward ~120 locations and €70m revenue, reaching new markets, scale and category depth across Southeast Europe.

• Between 2025-2026, Kafeterija broadened the platform organically and through M&A, opening 17 new outlets, acquiring Novi Sad rival Loft (9 locations, its first takeover) to reach 60+ sites across Serbia and Montenegro, and completing its first deal outside Serbia with a 70% stake in Sofia’s Eddy’s (via new entity Edis Kafeterija) to enter the Bulgarian market.

• These moves enable Kafeterija to scale a regional specialty coffee platform by combining vertically integrated roasting, branded café operations and Eddy’s food expertise, extending its reach into Bulgaria via new openings in Sofia, Bansko and Fantastico supermarkets while keeping Eddy’s as a food-focused brand.