ITALY
Lavazza Group, one of Italy’s leading coffee manufacturing companies, has acquired the beverage division of Mars Inc.
The deal, reportedly valued at $650 million, allows Lavazza to expand in the Office Coffee Service (OCS) and vending markets in North America as well as several European markets, the company stated. Included in the acquisition were the single-serve Flavia hot drink machines and Klix beverage vending machines.
Reuters reported Lavazza secured a $463 million loan to make the deal.
“This acquisition fits perfectly within our international expansion strategy, the objective of strengthening key markets, as well as the pursuit of having an even closer relationship with end consumers,” Lavazza c.e.o. Antonio Baravalle said in a statement. “Indeed, this acquisition strengthens the Lavazza Group’s position in the OCS and vending segments, which off considerable opportunities for growth and development.”