Italian coffee and beverages company Illy Group is reportedly considering the future of its coffee and chocolate production in the US.
Company president Riccardo Illy told Italian news agency Ansa that he is seeking alternative solutions in response to the protectionist policies of US President Donald Trump.
Concerns For Wine Exports
The group's president admitted that the company is also concerned about its Mastrojanni wines division, as the US accounts for a third of sales.
Mastrojanni is 100% owned by the Illy Group.
According to Mastrojanni’s managing director, Andrea Machetti, the company is in ongoing negotiations for new acquisitions in the Montalcino area and has already made important investments to expand the winery by the end of 2017.
Riccardo Illy also told the news service that he believes protectionism would not benefit the US. “If Trump launches a trade war with the EU, the US economy could then be targeted in retaliation," he noted.
© 2017 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
