Massimo Zanetti Beverage USA (MZB), the North American operating unit of the Italy-based global coffee roaster and marketer Massimo Zanetti Beverage Group, has acquired a 15.1% equity stake in Club Coffee of Toronto, Canada. Originally announced in November 2015, the transaction closed at the end of April 2016. MZB retains an option to purchase an additional 10% for 13 months after this purchase was completed.
MZB's collaboration with Club Coffee includes bringing the world's first certified 100 percent compostable single-serve hot beverage technology to the North American market.
John Boyle, MZB USA's president and chief executive officer said, "Consumers want a more sustainable option for their single-serve coffee and we are confident that our BPI-certified 100 percent compostable pod is the right solution. This equity stake demonstrates our enthusiasm for Club Coffee's commitment to technology that delivers this simple solution. It also underscores our determination to build market leadership through the innovation and the quality our consumers demand and have grown to expect from us."
Learn more: www.mzb-usa.com & www.clubcoffee.ca