Swiss based FMCG giant Nestle has announced plans to invest R$300 million ($75.96 million) in 2019 in a bid to expand its presence in the Brazilian coffee sector.
According to UOL Economia, Nestle will use the investment to develop and market 30 new coffee product, including a line of Starbucks branded coffees, roast and ground coffee beans, and capsules for Nespresso and Dulce Gusto machines.
The move is described as marking Nestle’s entry into roast and ground coffee in Brazil, a category that accounts for more than 85% of the country’s coffee sales and which is currently dominated by Tres Coracoes (controlled by Brazil’s Sao Miguel group and Israeli food producer Strauss), Dutch giant Jacob Douwe Egberts and Germany’s Melitta.
The investment will also make Brazil the first country in which Nestle will sell roast and ground coffee under the Nescafe brand, UOL Economia adds.
Source: UOL Economia