"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," said 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.
Justīne Elferte specialises in organisational strategy, stakeholder management, and advocacy. She has worked at Longenesis, the Financial Intelligence Unit of Latvia, and 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.
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, the company said.
