Brazilian coffee company 3Corações has acquired Mitsui Alimentos’ roast and ground (R&G) coffee business in Brazil for 210 million Reais ($48.52 million).
3Corações, a joint venture between Strauss Coffee and São Miguel Holding, offers a portfolio of local brands selling various forms of coffee including cappuccino, instant coffee and RTD products.
The deal includes two coffee factories, a distribution centre and several brands including Café Brasileiro, 3 Farms and Bandeira. It also includes products such as coffee capsules and instant coffee that are currently being produced by Mitsui in the country.
Mitsui Alimentos’ green coffee export business will remain under the ownership of Mitsui & Co in Japan and Brazil.
According to 3Corações, the acquisition will strengthen its leadership position in the coffee market in Brazil and is part of the merged company’s expansion plan, particularly consolidating its presence in the Midwest region.
Mitsui Alimentos’ R&G coffee business in Brazil is the fifth largest coffee company in the country, according to 3Corações.
Strauss Group CEO Giora Bardea said: “The coffee company is one of Strauss’s four major pillars and will continue to be one of the group’s key growth drivers in the future both organic and nonorganic.”
The acquisition follows a series of other transactions made by 3Corações in Brazil in recent years, such as the brands Fino Grão in 2012, Itamaraty in 2014, Cia Iguaçu in 2016 and Manaus in 2019.
Strauss Coffee CEO Zion Balas added: ” Strauss Group and its local partners, the Lima family, will continue to develop and grow the 3Corações joint venture organically as well as through further acquisitions that are relevant and complementary to our core business.”
The transaction and integration of the business units and brands is subject to approval by the Administrative Council for Economic Defense (CADE).
© FoodBev Media Ltd 2021
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