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Illycaffe Seeks U.S. Retail Partner To Expand Its Coffee Cafe Network

From: reuters.com

MILAN (Reuters) – Premium coffee maker Illycaffe is ready to sell a stake in the Italian company to a strategic partner to help it boost its retail network, the family-owned group said on Thursday.

The coffee maker has picked Goldman Sachs to find a major U.S.-based retailer as a partner to expand Illy’s U.S.-branded cafes to 200, more than 10 times its current footprint.

In July, Chairman Andrea Illy told Reuters the group could consider selling a minority stake for the first time since its foundation in 1933, should the right operating partner come along.

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