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Massimo Zanetti, the Italian coffee specialist, has announced it has acquired Cafe Pacaembu, a coffee firm based in Sao Paulo state, Brazil, for an undisclosed sum.
Founded in 1957, Cafe Pacaembu is described by Massimo Zanetti as one of the most traditional brands in the Sao Paulo.
“In a highly fragmented market, it still represents one of the best known coffees”, the firm said, adding that it was particularly renowned for its “extra strong” products. Cafe Pacaembu’s product line ranges from instant coffee and coffee mixes to roast and ground coffee and whole coffee beans. The acquisition also includes a “modern and efficient” plant for the production of ground and single serve coffee.
Commenting on the acquisition, Massimo Zanetti group chairman and CEO Massimo Zanetti said: “Brazil is an interesting market: it is the world’s largest producer and exporter of coffee and the second largest consumer market in the world, with high growth rates. The acquisition of Café Pacaembu which, with over 60 years of history, represents the traditional coffee of Brazil, will allow our Group to seize growth opportunities in Brazil”.
As a result of the acquisition, Massimo Zanetti’s revenues in Brazil in 2019 will be approximately R$130 million ($31.5 million), the firm added.
Source: Massimo Zanetti / Cafe Pacaembu
