MZB plans to acquire minority stake in Club Coffee
By Laura Aiken
Toronto – Massimo Zanetti Beverage USA (MZB), the North American operating unit of the Italy-based global coffee roaster and marketer Massimo Zanetti Beverage Group, announced its intentions to acquire a 25.1 percent minority equity position in Club Coffee of Toronto for $25.1 million.
The parties anticipate their agreement will enable MZB to expand its reach in Canada and Club Coffee to enhance its U.S. presence. The equity investment is expected to be finalized before the end of this calendar year and is subject to the parties’ successful conclusion of due diligence and other pre-closing conditions, reported the companies in a news release.
“MZB knows that market leadership comes from seeing what consumers want, then delivering effectively,” said John Boyle, MZB USA’s chief operating officer, in the news release. “We know consumers want a more sustainable option for their single-serve coffee and we are confident that our certified 100 percent compostable pod is the right solution. This equity stake demonstrates our enthusiasm for Club Coffee’s commitment to technology that delivers this simple solution. It also underscores our determination to build market leadership through the innovation and the quality consumers demand.”