The deal sees Madrid-based restaurant group Compañía del Trópico add a further six sites to its bakery-café portfolio, which also includes the 72-store Panaria and 23-site Café y Te chains
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Julieta Coffee currently operates five outlets in Malaga alongside a single site in Madrid | Photo credit: Julieta Coffee
Spanish restaurant group Compañía del Trópico has acquired Malaga-based artisan bakery and coffee chain Julieta Coffee for an undisclosed sum.
Founded by Carlos and Eva Pérez in 2013, Julieta Coffee currently operates five outlets in Malaga alongside a single site in Madrid. The food-focused coffee chain also produces its own line of pastries and bakery products under the Juanito Baker brand.
In a statement, Julieta Coffee said the acquisition would ‘boost its growth and expansion’ plans.
“We firmly believe that this transition will provide great opportunities for both our customers and our employees, and we are excited to see the bright future that awaits all of them,” Carlos Pérez said.
Julieta Coffee is Compañía del Trópico’s third bakery-café brand and first acquisition since it sold a majority stake to Madrid-based private equity firm PHI Industrial in July 2023.
Formed in 2015, Compañía del Trópico also operates the Panaria and Café y Té bakery-cafe chains, which have 72 and 23 stores across Spain respectively, alongside a handful of restaurant brands. In July 2024, the group’s CEO Augusto Méndez de Lugo outlined plans to strengthen its bakery-café segment through acquisitions and ‘inorganic growth’.
“We are very excited about the purchase of Julieta Coffee in Málaga because it is a brand that enjoys a high degree of recognition in the city and is also located in a key area for our overall growth. This acquisition confirms the good moment we are going through and is aligned with our inorganic growth strategy,” he said.
As part of the deal, Compañía del Trópico will begin distributing Juanito Baker products across its Panaria and Café y Té stores.
World Coffee Portal’s Project Café Europe 2024 report forecasts that the 1,750-store Spanish branded coffee shop market will reach 2,160 outlets in early 2029. The segment is currently led by McCafé, Starbucks and Rodilla with 250, 163 and 150 stores respectively.