Monday 15 August 2022

LAVAZZA – Decision on French deal expected by end-June

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MILAN – Italy’s leading coffee roaster Lavazza expects a decision on the acquisition of the French coffee brand Carte Noire by the end of June, the company’s Vice President Giuseppe Lavazza was quoted as saying on Thursday.

Italian coffee maker Luigi Lavazza has exclusive rights to consider the acquisition of Carte Noire coffee business from Mondelez International, as part of its contractual agreement with the latter.

Lavazza had at first considered purchasing two smaller companies originally offered up by Mondelez to proceed with the merger.

However, later the companies announced the plan to sell Carte Noir coffee brand instead of L’Or and Grand’Mère brands in order to alleviate the concerns of European regulatory authorities about the merger of Mondelez’s coffee business and D.E. Master Blenders.

Lavazza will have four weeks from a yet to be announced date to look at the books before other suitors are admitted to its data room, said a source close to the company quoted by Reuters.

“We are officially in (the race) and there is a chance that some investment funds may present a rival bid,” Giuseppe Lavazza said on the sidelines of an event in Paris on Thursday.

Negotiations will likely finish by the end of June, reports the same source.

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