A. SREENIVASA REDDY (ABU DHABI)
MAIR Group, a listed company on the Abu Dhabi Securities Exchange (ADX), has entered into a share purchase agreement to acquire 70% of the issued share capital of Eslab, the owner of Espressolab, a Turkish-origin specialty coffee brand.
“The transaction represents MAIR Group’s first cross-border acquisition since its listing on the Abu Dhabi Securities Exchange, supporting the Group’s strategy to diversify its investment portfolio,” a stock market disclosure said.
Eslab owns Espressolab, which was established in 2014 and operates a predominantly franchise-led network. As of August 2026, the Espressolab network comprised more than 400 coffee shops across 21 countries, according to the disclosure.
The company’s business model extends beyond operating coffee shops to brand management, franchising, coffee sourcing and roasting, product supply, retail and digital channels, providing what MAIR described as a scalable international platform.
MAIR said it is undertaking the procedures required to complete the acquisition under the share purchase agreement. Completion is subject to customary conditions precedent, including obtaining approvals from the relevant regulatory authorities.
The disclosure did not provide the value of the transaction.
MAIR Group was listed on ADX through a direct listing in December 2024. The company, formerly known as Abu Dhabi Cooperative Society, opted for a direct listing rather than an initial public offering, allowing its existing shares to be admitted to trading without raising new capital. It had more than 12,000 shareholders at the time of listing.
The company's market capitalisation currently stands at about Dh2.21 billion, according to the latest market data.
MAIR manages a portfolio spanning food retail, commercial real estate and other investments. Its retail businesses include ADCOOP, its flagship retail arm, and SPAR, the European supermarket brand that has operated in Abu Dhabi for more than a decade.