o Zanetti Beverage (MZB) has bought entire stake in Boncafé Group, in a deal worth $85m.The transaction includes the acquisition of the Boncafé roasting plants that are located in Thailand and Singapore.
Through this acquisition, the company is expected to bolster its presence across Indonesia, Vietnam, Cambodia, Singapore, Thailand, Malaysia, Hong Kong and the UAE.
MZB Group president Massimo Zanetti said that the company will now be able to further expand its presence across Asia, by meeting the growing consumer demand for coffee in the region.
"The integration of the Boncafé brand within the MZB Group will follow the criteria that have characterized our operations in the past, without making drastic changes to the successful business model and without changing its brand name, which is already well known in the region nor the top-notch management and workforce," added Zanetti.
Boncafé Group is engaged in the roasting and sale of gourmet coffee and coffee machine equipment across Southeast Asia and the Middle East. The company recorded an EBITDA of $7m in 2013.
