Petach Tikva / IL. (sg) Tres Coracoes Alimentos S.A., a Joint Venture of Strauss Coffee B.V. and São Miguel Holdings, is announcing the signing of an agreement with Cia Iguaçu, the second market leader of the instant coffee segment in Brazil. Cia Iguacu is a private company belonging to the Japanese Marubeni Corporation group that has diversified operations, also in the food industry. The agreement between the companies concludes the acquisition of the Cia Iguacu’s retail brands of coffee and derivatives in Latin America, including Brazil (the brands; Iguacu, Cruseiro and Amigo) as well as a production agreement. The agreement is subject to regulatory approvals in Brazil.
This acquisition will strengthen the leadership of Tres Coracoes group in the Brazilian coffee and its derivatives market. Tres Coracoes is currently the country’s market leader in the roast and ground coffee segments and this acquisition will improve its competitive landscape in the instant coffee segment, making it Brazil’s second market leader in the instant coffee segment. The acquisition also enables the company to export other products in its portfolio to Latin America through the well-established export capabilities of Cia Igaucu’s trademarks.
Tomer Harpaz, CEO of Strauss Coffee. commented: «Strauss Coffee is making an important step in its international expansion, by strengthening the role of Tres Coracoes, our joint venture in Brazil with São Miguel Holdings. Brazil is the world’s biggest coffee producer, the second largest consumer market and is highly strategic for Strauss Coffee and our JV partners in Sao Miguel Holdings».
«Tres Coracoes is the leading player in the Brazilian coffee market and after this acquisition it will become the second leading player in the instant coffee segment, thus improving its overall competitive role in Brazil. We intend to further use our international expertise and knowledge of different coffee markets to enhance our efforts to produce the highest standards of coffee products to our consumers worldwide».
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