Türkiye’s Competition Authority has cleared the sale of a majority stake in EspressoLab, one of the country’s largest coffee chains, to a company controlled by Abu Dhabi-based MAIR Group, according to a decision announced on Thursday.
The Competition Board, the authority’s decision-making body, approved the acquisition of shares in Eslab Kahve Gıda Sanayi ve Ticaret A.Ş., the company behind the EspressoLab brand, by Mina Roasters Holdings SPV Ltd., which is controlled by MAIR Group P.J.S.C. The approval gives the buyer sole control over the company, financial news site Bigpara reported, citing the authority’s website. The announcement did not disclose the size of the stake or the price.
A 70% deal announced in September
The deal was first reported on 25 September. According to Euronews Türkçe, which cited CNBC Arabia, the buyer agreed to take a 70% stake, with the remaining 30% staying with existing shareholders. At that point the transaction still needed approval from authorities in both countries. The deal value has not been made public.
EspressoLab was founded in Istanbul by Esat Kocadağ and has grown rapidly into an international brand. It has more than 400 branches in 23 countries, according to the September reports, making it one of the most widely recognised Turkish consumer brands abroad. Its cafes are a familiar sight in Turkish city centres and shopping malls.
Gulf money in Turkish consumer brands
The transaction is the latest in a series of Gulf investments in Türkiye, where companies from the United Arab Emirates and Qatar have bought into sectors ranging from retail and food to ports and energy. For Turkish founders, such deals bring hard-currency funding and access to Middle Eastern markets at a time when domestic borrowing remains expensive: the central bank cut its policy rate only to 36% on Thursday.
The Competition Authority reviews mergers and acquisitions above certain turnover thresholds to make sure they do not restrict competition in Türkiye. Approval is one of the last regulatory steps before a deal can be completed.
The sale comes as Türkiye’s coffee market continues to expand, with international and domestic chains competing for customers in big cities and resort towns. Foreign investors following Turkish business can read more about the economy in our report on Borsa Istanbul’s recent fall and the central bank’s latest market participants survey, while those relocating may find our cost of living in Turkey 2026 guide useful.
Sources
- Rekabet Kurumu’ndan ünlü kahve zinciri hakkında karar (Bigpara)
- Türk kahve devi EspressoLab’in yüzde 70’i BAE şirketine satıldı (Euronews Türkçe)
Photo: Jubair1985 / CC0, via Wikimedia Commons
