Sara Lee Corp and its Norwegian joint venture partner, Kaffehuset Friele, have entered into an agreement with ISS A/S to acquire the House of Coffee business, a foodservice provider of beverage solutions to offices and institutions in Norway and Denmark.
The deal is expected to close before the end of calendar 2011 and is subject to customary conditions, including regulatory approval. Jan Bennink, executive chairman, Sara Lee Corporation, said: "As we prepare for the launch of our successful pure-play coffee company, we continue to strengthen our positions in important markets that will be key to both our success and the success of our partners."
Sara Lee owns approximately 45% of Kaffehuset Friele. Through this joint venture, Sara Lee commercialises products such as Senseo coffee pods and Cafitesse liquid coffee in the Norwegian market. In Denmark, Sara Lee owns Merrild.
Olav Munch, CEO of Kaffehuset Friele, said: "Through the acquisition of House of Coffee we get a better foothold in the office coffee market which is a steadily growing segment. The strategic partnership between Kaffehuset Friele and Sara Lee continues to provide a strong platform for growth."
In connection with the sale, the parties have entered into a strategic partnership agreement to continue providing coffee vending services to the current House of Coffee customers in the Norwegian and Danish markets.
Source: Sara Lee
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