Italian coffee roaster Lavazza has acquired an 80% share in Canada's Kicking Horse Coffee from private equity fund Swander Pace Capital.
The CAD $215 million (€142.7 million) deal will see Elana Rosenfeld, the founder of Kicking Horse Coffee, retaining 20% of the shares and continuing as CEO. Antonio Baravalle, Lavazza Group CEO, will become the chairman of the Canadian company.
Kicking Horse specialises in organic and fair-trade coffee, and has recorded significant growth over the past years in both Canada and the US. Based in Invermere, British Columbia, the company is best known for its distinctive coffee blends and unique brand personality.
According to Baravalle, “Kicking Horse represents one of those local jewels that the Lavazza Group continues to seek in its strategy of globalisation and premium positioning". He also expects that “growth and development prospects both in and outside of Canada will increase significantly”.
The acquisition comes after Lavazza Group announced its best-ever results, with revenues of €1.9 billion in 2016.
© 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