Massimo Zanetti Beverage Group buys Boncafé for $85 million

  The Massimo Zanetti Beverage Group (MZB Group) announced at the end of May that it is acquiring the entire share capital of Boncafé Group. MZB Group currently owns international brands such as Segafredo Zanetti, Chock full o'Nuts, Kauai and Hill Bros (United States) and Meira (Finland). It announced on 21 May the acquisition of Boncafé Group, a leader in the roasting and sale of gourmet coffee and coffee machine equipment in Southeast Asia and the Middle East. As a result of this deal, the MZB Group said in a statement that it will reinforce its presence in these markets, with particular focus on Indonesia, Vietnam, Cambodia, Singapore, Thailand, Malaysia, Hong Kong and the UAE. The deal, worth a total value of US$85 million, includes the acquisition of the Boncafé roasting plants in Thailand and Singapore. “With this acquisition, our group will have the opportunity for further expansion in the Asian market, ensuring our production and distribution capacity is sufficient to meet the growing demand for coffee in the area,” said Massimo Zanetti, President of the MZB Group, in a statement. “The integration of the Boncafé brand within the MZB Group will follow the criteria that have characterised our operations in the past, without making drastic changes to the successful business model and without changing its brand name, which is already well known in the region nor the top-notch management and workforce.” Boncafé group had earnings of around US$7 million in 2013 (before taxes, depreciation and amortization) according to MZB Group, making it “a landmark coffee brand in Asia, thanks to the European taste that has influenced its production and marketing over time”. MZB Group also noted that the integration of Boncafé into its the large network of companies will guarantee the Asian player financial support following on from the ASEAN Free Trade Area (AFTA) agreement that will be effective from 1 January 2016.