Massimo Zanetti Acquires PT Caswells Indonesia
Italy’s Massimo Zanetti Beverage Group has completed the acquisition of a controlling stake (67%) in PT Caswells Indonesia.
The deal was completed through its subsidiary Boncafé International Pte Ltd.
The remaining 33% shareholding will continue to be held by an existing substantial shareholder, who will remain as a strategic partner of the Massimo Zanetti Beverage Group in long run.
With this acquisition, Boncafé will seek to extend its business presence in Indonesia, a fast-growing country in terms of its annual coffee consumption growth rate.
According to the company, the acquisition 'fits perfectly' into its strategy which aims to penetrate the foodservice channel, as well as the single serve market.
Following this deal, the Massimo Zanetti Group expects to see positive synergies and cross-selling opportunities for its products (such as Boncafé, Segafredo Zanetti and La San Marco) in Indonesia, as well as better use of internal resources that will enhance its brand name and operation efficiency.
Subsequent to the completion of the deal, the group will request permission from local authorities to change the name of PT Caswells to PT Bon Café Indonesia, a process that should take about two months to complete.
© 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