INTL FCStone acquires Coffee Network division of Hencorp
November 9, 2011, New York – INTL FCStone Inc. has acquired Coffee Network, an online news and analysis portal for the global coffee industry.
Coffee Network provides up-to-the-minute news and in-depth analysis to subscribers around the globe from a network of correspondents and commodity analysts located in key coffee producing and consuming regions.
Coffee Network joins INTL FCStone subsidiary FCStone Group Inc.'s existing suite of information products, including eDairy for the dairy industry and Globecot News Network for the cotton industry. These services provide a unique information solution to subscribers and a competitive advantage in today's information-driven marketplace.
Pete Nessler, president of FCStone said, "The acquisition of Coffee Network provides INTL FCStone with a platform to communicate with the global coffee industry. Our cotton and dairy information products play a very important role introducing the scope of our firm's capabilities to their respective industries, and we look forward to furthering our relationships within the coffee industry via Coffee Network."
Raul Henriquez, CEO of Hencorp Group, said, "The sale of Coffee Network to INTL FCStone Inc. made perfect sense, having previously sold our futures brokerage operations to them. I am confident that INTL will further enhance the growth potential of CN."
INTL FCStone's acquisition of Coffee Network follows the acquisition of Hencorp Futures in 2010. Both companies were previously owned by Miami-based investment banking group Hencorp Group.