Nestlé buys Egyptian company Caravan

Nestlé has acquired the Caravan Marketing Company, which is the owner of the Egyptian instant coffee brand Bonjorno. The investment is seen as an effort by Nestlé to captialise on the growing popularity of soluble coffee among Egyptian consumers. Nestlé already operates the Nescafé brand in Egypt and will continue to do so, with the company saying it plans to capitalize on the complementary strengths of the two brands. A spokesman for Bonjorno said the acquisition will allow the brand to pursue more export opportunities in the future.