Get the app today! Download iPhone App Download Android App

Cofffee Maker Illy Seeks Growth Outside of Coffee Business

Published on Oct 28 2016 1:00 PM in A-Brands tagged: Trending Posts / Coffee / Italy / Illy

Cofffee Maker Illy Seeks Growth Outside of Coffee Business

Italy’s Illy Group is planning to expand its activities beyond its traditional coffee business.

The company's board of directors has approved a €38 million capital increase and is preparing to issue a €20-25 million bond at the beginning of 2017.

Proceeds will be mainly allocated for the growth of companies that are already part of the group - Damman Frères (tea), Agrimontana (jams), Domori (chocolate) and Mastrojanni (wine).

After the sale of the Grom ice cream brand to Unilever, Illy Group is launching a new phase of expansion with the aim of "accelerating growth in the subsidiaries and expanding its presence in foreign markets", said CEO Federico Marescotti.

According to Trieste-based daily Il Piccolo, this could mean the entry of Illy Group into new business segments such as baked goods and high class pastry, possibly in France and Switzerland,

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email