The company looks to capitalise on the instant coffee market.
Swiss coffee trader Sucafina SA struck a deal to buy a majority stake in a U.K. merchant known for supplying Costa Coffee, Bloomberg has reported.
The company bought a 75% stake in Complete Coffee Ltd., a seller to the British coffee chain that’s now owned by Coca-Cola Co., according to Nicolas Tamari, Sucafina’s chief executive officer.
The merchant is understood to be the preferred partner of the Colombian Coffee Federation for instant coffee sales in the U.K.
The move is part of Sucafina’s expansion plans and gives the Swiss company a foothold in the U.K., which has a large market for instant coffee.
Read the full report here.
Do you know more about this story? Contact us anonymously through this link.