Lavazza to acquire two French brands for EUR 600 m

Italian coffee producer, Lavazza offered EUR 600 m for the acquisition of two French brands in the same sector.

Italians aim at L'Or and Grand Mere which must go on sale so that their current owners, Mondelez International and D. E. Master Blenders 1753 could merge. The Italians are sure they will finalize the job soon.

Preparations for the Lavazza acquisition started in October and apart from it, Israeli Strauss Group as well as four investment funds were interested.

However, Lavazza remained as the most serious bidder, Reuters reports. The Italian company is planning to boost profit share from foreign market from current 46% to 70%, Reuters reports.