Brazil’s largest coffee roaster, Grupo 3corações has acquired the roasted and ground coffee division of Mitsui Alimentos, a subsidiary of the Japanese Mitsui & Co, for R$210 million (about US$48.5 million).
In Brazil, Mitsui owns the brands Café Brasileiro, .br Gold, 3 Fazendas, Premiado, Café Superior, and Bandeira. The acquisition also includes two roasting plants, a distribution centre, and coffee capsule and instant coffee products.
According to Pedro Lima, President of Grupo 3corações, the purchase further consolidates the company’s position in the Brazilian market.
“This is the largest acquisition ever made by Grupo 3corações and is an important step towards consolidating our position in the roasted and ground coffee segment, mainly in the midwest and in the state of São Paulo,” 3corações President Pedro Lima says.
“We believe in the workforce and we will certainly do our best to receive this new operation and continue to strengthen our ties with consumers.”
Grupo 3corações is joint venture between São Miguel Holding and the Israeli Strauss Group.
Mitsui Alimentos is the fifth largest coffee company in Brazil, and its brands have a 3.8 per cent market share. Its green coffee export business will remain under the umbrella of Mitsui & Co.
The acquisition process still depends on the approval of the Brazilian government.