Portuguese investment fund Domus Capital Group has entered the coffee market with the acquisition of the Portucale brand.
The brand, which is produced at the Fábrica Estrela da Beira - FEB Cafés roasting plant, was acquired from Sogenave, part of Trivalor group.
Portucale has limited distribution in the HoReCa channel in Portugal and is also available at a number of retail stores in the Ukraine and the Czech Republic.
The new owner has international ambitions for the brand, with plans to relaunch it from September, expanding into more retail markets.
Speaking to Lusa, CEO Augusto Pinto said the United States and Canada are among the new markets to be targeted, with Portuguese communities abroad being the main focus of the strategy due to the brand's close connections with Portugal.
From September, the brand will adopt the motto 'O Nosso Caffe' (Our Coffee), appealing to the "emotional connection with consumers".
Although Pinto did not reveal any revenue goals, he indicated that the group aims to achieve 60 tonnes' worth of sales in the next four years.
The coffee market in Portugal is worth around €500 million and dominated by three large groups, so Portucale is not aiming for a significant share in its home market in the medium-term.
Pinto said that expects slow growth, given the current pandemic and its effects on the normal functioning of the HoReCa channel.
In addition to Quinas beer and Portucale coffee, Domus Capital Group also owns other brands in the food and beverage sector including Pure Aqua sparkling water, Sumovite juices, Uma Cola cola, Nau Pura vodka, as well as Ginja do Paço and RGP gin.
© 2020 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