Douwe Egberts owner JDE Peet’s has snapped up the coffee and tea business of Brazil’s JAV Group.
Financial details were not disclosed. The acquisition will be paid for in cash but is still subject to regulatory approvals and should be closed in 2024, JDE Peet’s said in a statement yesterday (24 July).
JAV Group’s Maratá brands, including Café Maratá and Chá Maratá, are mainly present in the northern region of Brazil. The business employs around 1,200 employees and operates two manufacturing plants.
JDE Peet’s said the acquisition will “complement JDE Peet’s’ existing portfolio of brands” which are predominantly sold in the southern regions of Brazil.
The Netherlands-based group said Brazil’s coffee market “offers compelling prospects for both volume and value growth”. The group markets brands such as Cafe Pilao, Cafe do Ponto and L’Or in the South American country.
Fabien Simon, the CEO of JDE Peet’s, said: “Over the last three years, we have been focussed on transforming JDE Peet’s into a faster growing, correctly invested and more sustainable company. We are now ready to take the next step and continue our disciplined path of geographical expansion and diversification.
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“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. 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.”
José Augusto Vieira, founder of JAV Group, added: “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.”
Just Drinks has asked JDE Peet’s to confirm whether JAV Group will continue to exist as an active company following the deal.