JDE Peet’s, the world’s leading pure-play coffee and tea company by revenue, has announced that it has signed an agreement to acquire Maratá’s coffee and tea business from JAV Group for an undisclosed amount in cash.
Maratá’s coffee and tea business is predominantly present in the northern part of Brazil through its brands Café Maratá and Chá Maratá.
The business employs around 1,200 employees, operates two manufacturing plants and sells its products through a large distribution network.
The acquisition will complement JDE Peet's’ existing portfolio of brands predominantly sold in the southern regions of Brazil.
The coffee and tea company said the acquisition offers long-term value creation potential through 'attractive revenue and cost synergies.'
'Strong Momentum'
"Following completion, this acquisition will represent a highly complementary proposition to our existing business in Brazil, which has been building strong momentum in recent years, allowing us to serve more cups across a full range of price points and product offerings while expanding our regional presence in Brazil,” said Fabien Simon, CEO of JDE Peet’s.
“Since Maratá was founded over 50 years ago, we have stayed true to our mission of providing innovative, socially responsible, and high-quality products to consumers across Brazil," added José Augusto Vieira, founder of JAV Group.
"I am very proud of the strong and successful coffee & tea platform we have built, and I am very pleased that by handing over our coffee & tea business to JDE Peet’s, the world’s leading pure-play coffee & tea company, we are securing the long-term development and success of this great business.”
The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in 2024.
