JDE Peet’s has announced it has signed an agreement to acquire Maratá’s coffee and tea from JAV Group for an undisclosed amount in cash.
“Over the last three years, we have been focused on transforming JDE Peet’s into a faster growing, correctly invested, and more sustainable company,” says JDE Peet’s CEO Fabien Simon. “We are now ready to take the next step and continue our disciplined path of geographical expansion and diversification.
“I am therefore very pleased with the opportunity to buy Maratá’s well-run coffee and tea platform in Brazil, an attractive market we know well and where we have successfully made acquisitions in the past.”
Maratá’s coffee and tea business is predominantly present in the northern part of Brazil through its Café Maratá and Chá Maratá brands.
“Following completion, this acquisition will represent a highly complementary proposition to our existing business in Brazil, which has been building strong momentum in recent years, allowing us to serve more cups across a full range of price points and product offerings while expanding our regional presence in Brazil,” says Simon.
Café Maratá and Chá Maratá employs around 1,200 employees and operates two manufacturing plants.
“Since Maratá was founded over 50 years ago, we have stayed true to our mission of providing innovative, socially responsible, and high-quality products to consumers across Brazil,” says JAV Group Founder José Augusto Vieira. “I am very proud of the strong and successful coffee and tea platform we have built, and I am very pleased that by handing over our coffee and tea business to JDE Peet’s, the world’s leading pure-play coffee and tea company, we are securing the long-term development and success of this great business.”
The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in 2024.
For more information, visit www.jdepeets.com.