Strauss: its subsidiary in Brazil will acquire 100% of the shares of Mitsui Alimentos

Strauss Group reports that its subsidiary, Strauss Café BV has signed a deal whereby through the joint venture (JV) Tres Corações (3C) operating in Brazil will acquire 100% of the shares of Mitsui Alimentos from the Japanese Mitsui Group in Brazil. Under the agreement, the joint venture "3C" will pay a total of NIS 210 million, which is approximately NIS 167 million, for the roasted and ground coffee operations of Mitzui in Brazil. The Lima Family.
Mitzui Coffee's operation in Brazil has been operating under Mitsui Alimentos since 1974 and holds about 3.8% of the Brazilian coffee market and is the country's fifth coffee player. Based on the data provided to the company, Elimantus's revenue for roasted and ground coffee in 2019 was about 270 million real (about NIS 245 million). Following the acquisition, C3 is consolidating its position as the coffee market leader in Brazil. In the world in terms of volume.
The Café Brasileiro brand is Mitzvi's leading coffee brand, mostly roasted and ground coffee (R&G) and is predominantly dominant in the Sao Paulo State Center and Brazil's Midwest region and its acquisition will strengthen the activity of the 3C joint venture in these areas. This deal joins other acquisitions made by the 3C joint venture in Brazil in recent years. Among other things, the Fino Grao brand was acquired in 2012, the ITAMARATY brand in 2014, the Cia Iguacu brand in 2016 and Manaus in 2019.