Italian coffee giant Lavazza announced on Monday that it had presented a "
binding offer for the purchase
" of French coffee distributor MaxiCoffee, without revealing financial details.
The Lavazza group intends to buy "
100% of the share capital
" of 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 “
concept stores
”.
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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 communicated on the operation, at the end of which “
the Lavazza group, majority shareholder will be associated
” with Mr. Brancato “
who will reinvest in the minority in the capital of MaxiCoffee of which he will remain the President
”, explains the press release.
The acquisition "
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
” of MaxiCoffee and “
our entry into the company will in no way change a proven business model
,” he promises.
The transaction still needs to be approved by the French Competition Authority.