Italian coffee giant Lavazza has acquired U.S food giant, Mars Inc coffee business for an estimated 650 million dollars. The deal will see Lavazza swallow the company’s entire coffee division including its debt. The agreement will include the taking over of the food giants business coffee brands and vending machine segments. The acquisition aims to help the Italian coffee brand expand into the US coffee market.
“This acquisition strengthens Lavazza’s position in the OCS and vending segments, which offer considerable opportunities for growth and development,” said Antonio Baravalle, Lavazza CEO.
The announcement comes as large beverage companies continue to acquire coffee brands. Earlier this year Coca-Cola brought coffee chain Costa from Britain’s Whitbread, and Nestle struck a deal with Starbuck’s to buy its retail business.