Brazil’s 3Coracoes Buys Mitsui Coffee Unit For $48 Million
From: nasdaq.com
SAO PAULO, Feb 17 (Reuters) – Brazilian coffee company 3Coracoes announced on Monday the acquisition of a large part of Mitsui & Co Ltd’s 8031.T coffee business in Brazil for 210 million reais ($48.55 million).
3Coracoes, a joint venture between local holding company Sao Miguel and Israel’s Strauss Group Ltd STRS.TA, said in a statement that the deal includes two coffee processing plants, a distribution center and several brands.
The transaction also includes products such as coffee capsules and instant coffee that are currently being produced by Mitsui in the country.
3Coracoes said the deal will increase its leading share in Brazil’s ground roasted coffee market, particularly boosting its presence in the center-west region.
