Italian coffee roaster Massimo Zanetti Beverage Group (MZB) plans to go public in November. The company may sell a stake of up to 40% to fund international acquisitions and growth, chairman Massimo Zanetti said in an interview with Reuters.
“The stock market is a route to growth. We want to expand around the world through acquisitions,” said Zanetti.
The company may list in Milan, but other options such as Singapore or Luxembourg are also considered.
The Massimo Zanetti Beverage Group claims itself as the first private coffee group in the world.
The family will retain a stake of at least 60 percent, Zanetti said, but he wants to change the shareholding structure to avoid any future instability.
“I have two children and I do not want any family problems in the future to have an impact. I prefer to take the company public so each of them can have their share, and ensure continuity in the company.”
Zanetti said MZB, which launched the Segafredo Zanetti brand in China in January, was looking at an acquisition opportunity in Asia and is currently building a plant in Vietnam.
Zanetti said MZB was also looking at a possible acquisition in Costa Rica, but a potential deal in Ukraine had been put on hold due to political tensions there.
MZB manufactures 120,000 tonnes of coffee a year and produces tea, cocoa, chocolate and spices, making total annual revenue of 1 billion euros ($1.4 billion).
The Massimo Zanetti Beverage Group is a holding company founded and chaired by Massimo Zanetti.
The Group encompasses a number of well known international brands, including Chock full o’Nuts, Chase and Sanborn, MJB, Hills Bros., Segafredo Zanetti Espresso, Meira Oy, Brodies and Tiktak.
Global operations include a coffee plantation and green coffee processing plant in Brazil, a coffee mill in Costa Rica, green coffee export companies in both Brazil and Costa Rica, and a green coffee trading company in Switzerland. Kauai Coffee Company LLC, is part of Massimo Zanetti Beverage, USA, Inc., one of the the largest coffee roasters in the US, and is a subsidiary of MZBG.
MZBG also operates 11 roasting plants throughout the world, espresso machine manufacturer La San Marco, and owns a network of over 600 international Segafredo Zanetti Espresso cafés as well as Puccino’s, one of the biggest coffee house franchise networks in the UK.