Massimo Zanetti Beverage Group (MZBG) has acquired Brazilian coffee company Café Pacaembu through its Brazil-based subsidiary, in a move to strengthen its position in the country.
Founded in 1957, Café Pacaembu is a San Paolo-based firm described by MZBG as ‘one of the most well-recognised brands’ in the country.
Estimates provided by MZBG claim that the acquisition of the Brazilian firm will increase the company’s revenue in the country to BRL 130 million ($31.5 million)
MZBG will obtain Café Pacaembu’s production facility as part of the agreement. The facility produces ground coffee and single-serve products, allowing the company to meet the growing demand for coffee products in the market.
According to a statement from MZBG, Café Pacaembu’s current management team and one of the company’s founders will continue to lead the company to ensure operating continuity.
Massimo Zanetti, the CEO of MZBG said: “Brazil is an interesting market: it is the world’s largest producer and exporter of coffee and the second-largest consumer market in the world, with high growth rates.
“The acquisition of Café Pacaembu which, with over 60 years of history, represents the traditional coffee of Brazil, will allow our group to seize growth opportunities in Brazil.”
The deal follows several major acquisitions made by MZBG earlier this year, as part of an international expansion effort.
In February, MZBG acquired Portuguese coffee company Cafés Nandi in response to growing coffee demand across Europe, while in January, the company purchased Australian coffee group The Bean Alliance for AUD 24 million ($17.4 million).
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