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A large coffee producer is to sell its coffee business in Russia
30.10.2012 16:56
A large coffee producer is to sell its coffee business in Russia
Coffee Black Card

The Israeli company Strauss Group, which owns some coffee brands like Black Card (Chernaya Karta) and Platinum, is negotiating on selling its coffee business in Russia, informs  Ynetnews. There is no official confirmation yet.

Strauss Group is negotiating with the largest market players, among them Nestle, Kraft Foods and Sara Lee. At that the Israeli company may get about $200 million for its business.

Strauss Group is producing food, non-alcoholic drinks and coffee. Among its trade marks are Black Card, Platinum, TOTTI, Ambassador, Le Cafe and FORT.

In the Russian coffee business Strauss Group owns 75%, another 25% is owned by the investment company TPG Capital, which invested $293 million in the joint venture in 2007.

Strauss Group is one of the largest participants in the coffee market in Russia with a share of 13%.

Author: Irina Fomina

Tags: Russian business     

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