The Italian coffee giant takes over “100% of the share capital” with the aim of strengthening its position in France.
Italian coffee giant Lavazza announced on Monday that it has presented a “binding offer for the purchasefrom the French coffee distributor MaxiCoffee, without revealing the financial details. The Lavazza group intends to buy “100% of share capitalof the French company founded in 2007 by Christophe Brancato in the south-east of France and which currently employs some 1,500 people. MaxiCoffee sells more than 350 brands of coffee as well as machines and accessories to individuals and professionals through its website, “60 professional agencies“and several shops”concept store“.
The company, which has also opened a “coffee school» located in Bordeaux, Marseille and Paris, is now owned by its founder, the 21 Invest France fund, and «other minority shareholders“. No financial details were disclosed on the operation, at the end of which “the majority shareholder Lavazza group will be associated» to Mr. Brancato «who will reinvest in a minority stake in the capital of MaxiCoffee, of which he will remain Chairman“, explains the press release. The purchase “is part of our international development strategy” and “will allow us to consolidate our position in France, a key market for the group since always, and to strengthen our presence in e-commerce“, explains the general manager of Lavazza, Antonio Baravalle.
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Lavazza”plans to support the development» from MaxiCoffee and «our entry into the company will in no way modify a proven business model“, he promises. The transaction still needs to be approved by the French Competition Authority.
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