Reborn Coffee Announces Letter of Intent to Acquire Majority Stake in Derin Lezzetler, an Istanbul, Turkey-based Artisan Snack and Frozen Bakery Producer

Acquisition will Enable Reborn Products to be Distributed Globally

BREA, Calif., May 21, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee, Inc. (NASDAQ: REBN) ("Reborn", or the "Company"), a California-based retailer of specialty coffee, today announced that it has signed a Letter of Intent (LOI) to acquire a 55% majority stake in Derin Lezzetler, a leading artisan snack and frozen bakery producer based in Istanbul, Turkey. This strategic move marks a significant milestone in Reborn Coffee’s expansion into the health-conscious food market and its plans to further penetrate the US, Europe, Middle East, and Asia Pacific regions.

Derin Lezzetler has been at the forefront of producing high-quality gluten-free and artisan snacks since its establishment in 2015. The company has developed a robust distribution network that includes globally recognized brands such as Starbucks, Caffe Nero, Gate Plus, Costa Coffee, Migros, Shell, Espressolab, and Coffy, making its products available worldwide.

"This Letter of Intent aligns perfectly with our vision to enhance our product offerings and cater to the evolving needs of our customers," said Farooq Arjomand, Chairman of Reborn Coffee. "Derin Lezzetler’s commitment to quality and innovation in the health food sector presents a valuable addition to our business. Furthermore, this partnership will accelerate our plans to expand our presence in the US market, introducing these artisan and health-focused products to American consumers."

Derin Lezzetler’s expertise in the development and distribution of gluten-free and grab-and-go products complements Reborn Coffee’s commitment to healthy and quality. The acquisition, once finalized, will enable Reborn Coffee to leverage Derin Lezzetler’s established relationships and expand its footprint in the global market and the United States.

"We are excited to join forces with Reborn Coffee and embark on this new journey together," expressed Kerim Sukan, founder of Derin Lezzetler. "With Reborn Coffee’s global reach and our shared commitment to quality, we are poised to achieve remarkable growth and continue delivering innovative products to our customers, especially in the lucrative US market."

The strategic acquisition will also focus on enhancing the product line, maintaining high standards of food safety, and continuing to innovate while serving the needs of health-conscious consumers across the globe.