Lavazza Group, an Italian roaster operating in more than 90 countries, has purchased an 80% stake in Kicking Horse Coffee, Ltd. from private-equity fund Swander Pace Capital.
Founded in 1996, Kicking Horse Coffee, is a Canadian maker of organic and fair-trade coffee for the Canadian and U.S. markets. The company was valued at C$215 million.
“Kicking Horse Coffee represents one of the ‘local jewels’ the Lavazza Group continues to seek as part of its globalization and premium positioning strategy,” said Antonio Baravalle, chief executive officer of the Lavazza Group. “Today, organic fair-trade coffee is one of the fastest-growing trends at the international level, and in North America in particular. Kicking Horse Coffee leads this segment with a brand that is perfectly complementary to the Lavazza portfolio. In recent years, the company has constantly grown at a double-digit rate and, thanks to this acquisition, its growth and development prospects both in and outside of Canada will increase significantly.”
The transaction aligns with Lavazza’s strategy to expand more in North America, the company said, and its objective is to further increase Kicking Horse Coffee’s brand equity while sharing key competencies and values.
Elana Rosenfeld, co-founder and c.e.o. of Kicking Horse Coffee“Kicking Horse Coffee has always distinguished itself for its unrelenting commitment to quality coffee, along with strong sustainability values,” said Elana Rosenfeld, co-founder and c.e.o. of Kicking Horse Coffee. “The Lavazza Group shares this vision and we now have the perfect partner to assist us in growing and connecting the world with our coffee. I am thrilled and honored we now share this beautiful adventure with the Lavazza Group.”
By Rebekah Schouten
Source: Food Business News
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