Lavazza offers to buy France's Carte Noire
Italy's premier coffee brand Lavazza has offered to buy French coffee label, Carte Noire, for a figure believed to be around €800 million.
Lavazza is the worlds seventh biggest coffee roasting company and has made a binding offer to buy the French market leader, which is owned by Douwe Egberts, Reuters reported.
If approved by the European Commission and the French authorities, the offer will see the family-owned Lavazza acquire Carte Noire's roast and ground coffee, filter pads, and Nespresso compatible capsule businesses.
The deal will also see Lavazza take control of the Carte Noire plant near Montpellier and comes as part of a company plan to increase revenues from its current revenues of around €1.3 billion to €2 billion within ten years.
A statement from the chief executive of Lavazza, Antonio Baravalle, said that with the deal would enable the company to "reach a leadership position in France, the fourth global coffee market and second in Europe."
A source told Reuters that Lavazza, which was founded in Turin in 1895, had fended off stiff competition from many private equity firms to secure the deal.
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Lavazza is the worlds seventh biggest coffee roasting company and has made a binding offer to buy the French market leader, which is owned by Douwe Egberts, Reuters reported.
If approved by the European Commission and the French authorities, the offer will see the family-owned Lavazza acquire Carte Noire's roast and ground coffee, filter pads, and Nespresso compatible capsule businesses.
The deal will also see Lavazza take control of the Carte Noire plant near Montpellier and comes as part of a company plan to increase revenues from its current revenues of around €1.3 billion to €2 billion within ten years.
A statement from the chief executive of Lavazza, Antonio Baravalle, said that with the deal would enable the company to "reach a leadership position in France, the fourth global coffee market and second in Europe."
A source told Reuters that Lavazza, which was founded in Turin in 1895, had fended off stiff competition from many private equity firms to secure the deal.
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