Italian coffee giant Massimo Zanetti Beverage Group (MZB) is set to strengthen its presence in Australia through the acquisition of The Bean Alliance.
The Italian roasted coffee producer and distributor has signed an agreement to acquire the business and assets of the local group of companies with a portfolio of premium brands and strong growth potential.
The AUD 24.0 million (€14.9 million) deal provides MZB with the opportunity to penetrate the local roasted coffee business, and opens up an additional development opportunity in the APAC market.
In addition, MZB will also acquire an in-house manufacturing facility in Australia.
'An Interesting Market'
According to MZB chairman and CEO, Massimo Zanetti, “Australia is an interesting market with a well-established high-quality coffee culture and with the preference of independent roasters”.
He added that the transaction is in line with the company’s objectives envisaging the strengthening and focusing of the business on strategic markets through targeted acquisitions.
Based in Melbourne, The Bean Alliance has created several premium brands in the local market. These include Bean Ground and Drunk - the winner of many sustainability awards, Gravity Espresso, Ox3, and Indulge Your Senses.
The products are distributed in the main domestic retailer chains, and in the local roasted premium channel for café chains.
During the fiscal year ended 30 June 2018, The Bean Alliance revenues reached AUD 24.5 million (€15.4 million) and normalised EBITDA was AUD 3.0 million (€1.89 million).
The current management team of The Bean Alliance, including the company’s founders, will continue to lead the group. The deal is expected to be closed by end of January 2019.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
