Lavazza, Italy’s largest coffee company with a turnover of $1.2 bn has acquired coffee chain Barista Coffee Company and coffee vending business Fresh & Honest for an estimated combined valuation of around $125 mn. The two coffee businesses belonged to the Chennai-based Sterling Infotech Group, controlled by NRI takeover tycoon C Sivasankaran. Lazard was the financial advisor to Lavazza on the deal.
C Sivasankaran had bought 65% in Barista from Turner Morrison three years ago, and later purchased the remaining 35% stake from the Tata Group. His Sterling Group was learnt to have paid around Rs. 65 crores for the acquisition of 100% in Barista. Sivasankaran had put the coffee chain on the block in August last year and had appointed Standard Chartered to look for a buyer.
Lavazza earns two-thirds of its annual turnover from packet sales of roast-and-ground coffee powder and the balance from out-of-home cafe and vending business. The company sells packet coffee under the Lavazza brand name through 24,000 outlets in 80 countries. It imports 12% of its total coffee beans from India.
Read the articles in Business Standard and The Economic Times.
Related Link: Lavazza to pump in Rs. 600 crores in Barista
Showing posts with label Fresh and Honest Cafe. Show all posts
Showing posts with label Fresh and Honest Cafe. Show all posts
Subscribe to:
Posts (Atom)