Leading independent coffee roaster Matthew Algie has been acquired by the German coffee and food service business Tchibo.
Described as complementary to both brands, the deal will allow Glasgow-based Matthew Algie to continue to operate as a standalone entity, keeping its triple ethical accreditation and trading standards.
Aided by Tchibo, Matthew Algie – one of the UK’s biggest suppliers to food markets – will have a platform for further expansion and innovation, looking to build on its recent growth.
The deal will see Matthew Algie remain the same in the UK and Ireland, continuing to be run by its current management team. Tchibo – whose services include a coffee food offering to sectors such as forecourts, hotels and offices – will use the acquisition to expand its own UK operations.
A contributing factor behind the acquisition is the growth of Matthew Algie’s sister-company, Espresso Warehouse. The brand sells Fairtrade espresso products and equipment to cafés, restaurants and hotels, with Tchibo aiming to take the brand across Europe.
On the conclusion of the acquisition, Nick Snow, Tchibo’s managing director for coffee service, said: ‘We are very keen to maintain Matthew Algie’s independence while providing it with the opportunity to drive innovation in the UK coffee service market. We will learn a lot from each other while both continuing to grow.’
Gary Nicol, chief executive for Matthew Algie, added: ‘Our focus remains on our dedication to sustainable sourcing and great tasting coffee for our customers, but now with the complementary experience, products and services and routes to market offered by new partners Tchibo.’
By Isabella Sullivan
A report from ingredients supplier Henley Bridge has warned that cocoa price increases of 15-20% for the first half of 2024 might continue into the second half of the year. Despite growth in global cocoa supply in 2021, unfavourable weather conditions and demand from emerging markets have led to supply deficits.
By carving out the ANH business, DSM-Firmenich would focus fully on its Perfumery & Beauty; Taste, Texture & Health; and Health, Nutrition & Care divisions. Full focus on these businesses is expected to enhance commercial potential and synergies, supporting “consistent growth outlook alongside robust margins”.
Cargill and Enough are expanding their partnership to further develop nutritious and sustainable alternative meat and dairy solutions. Cargill has signed a commercial agreement to use and market Enough’s Abunda protein and has also invested in the company’s Series C growth funding round.