The Massimo Zanetti Beverage Group strengthened its position in Australia in early February with the acquisition of The Bean Alliance for $17.4 million.
“We are very satisfied with this deal,” c.e.o. Massimo Zanetti said in a Feb. 1 statement. “Australia is an interesting market with a well-established high-quality coffee culture and with the preference of independent roasters. The Bean Alliance, which has been active in the Australian market for over 35 years, was able to create premium brands that stood out for product innovation, in particular in the local roasted growing channel, and for the sustainability project, as confirmed by the many awards and certifications obtained. In addition to strengthening Massimo Zanetti Beverage Group’s presence in Australia, The Bean Alliance’s acquisition opens up an additional development opportunity in the APAC market.”
The Bean Alliance, which started operation in 1981, supplies premium coffee to retailers and coffee shops under a variety of brands including Ox3, Gravity Espresso, and Bean Ground and Drunk. The company reported annual revenues totaling $17.7 million for the fiscal year ending June 30, 2018.
The company’s management team will stay in place, according to a Massimo Zanetti Beverage Group statement, and operate as the Bean Alliance Group. Bean Alliance employs about 60 people and maintains its roasting facility.