Massimo Zanetti Beverage USA (MZB), the North American operating unit of the Italy-based global coffee roaster and marketer Massimo Zanetti Beverage Group, has announced plans to acquire a 25.1% minority equity position in Club Coffee of Toronto, Canada, for $25.1 million.
The agreement will enable MZB to expand its reach in Canada and Club Coffee to enhance its US presence. MZB’s collaboration with Club Coffee includes bringing the world’s first certified 100% compostable single-serve hot beverage technology to market. MZB will be the first company to give consumers a 100% compostable solution to their concerns about single-serve coffee waste, starting with its Hills Bros coffee brand in January 2016.
“MZB knows that market leadership comes from seeing what consumers want, then delivering effectively,” said John Boyle, MZB USA’s chief operating officer. “We know consumers want a more sustainable option for their single-serve coffee and we are confident that our certified 100% compostable pod is the right solution. This equity stake demonstrates our enthusiasm for Club Coffee’s commitment to technology that delivers this simple solution. It also underscores our determination to build market leadership through the innovation and the quality consumers demand.”
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