JDE Peet’s announces intent to acquire Maratá’s coffee & tea business in Brazil
Image credit: JDE Peet's
JDE Peet’s (EURONEXT: JDEP), the world’s leading pure-play coffee and tea company by revenue, has announced that it has signed an agreement to acquire Maratá’s coffee and tea business in Brazil from JAV Group for an undisclosed amount in cash. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in 2024.
Maratá’s coffee and tea business is predominantly present in the northern part of Brazil through its longstanding and well-known brands Café Maratá and Chá Maratá. The business employs around 1,200 employees, operates two manufacturing plants and sells its products through a dense and well-established distribution network.
Upon completion, the acquisition will complement JDE Peet’s’ existing portfolio of brands primarily sold in the southern regions of Brazil. The acquisition will increase JDE Peet’s’ scale and national coverage in Brazil, a market which offers compelling prospects for both volume and value growth. As a result, the acquisition offers long-term value creation potential through attractive revenue and cost synergies.
Commenting on the acquisition, Fabien Simon, CEO of JDE Peet’s, said, “Over the last three years, we have been focused on transforming JDE Peet’s into a faster growing, correctly invested, and more sustainable company. We are now ready to take the next step and continue our disciplined path of geographical expansion and diversification. I am therefore very pleased with the opportunity to buy Maratá’s well-run coffee and tea platform in Brazil, an attractive market we know well and where we have successfully made acquisitions in the past.” He noted that following its completion, “this acquisition will represent a highly complementary proposition to our existing business in Brazil, which has been building strong momentum in recent years, allowing us to serve more cups across a full range of price points and product offerings while expanding our regional presence in Brazil.”
José Augusto Vieira, founder of JAV Group, added, “Since Maratá was founded over 50 years ago, we have stayed true to our mission of providing innovative, socially responsible, and high-quality products to consumers across Brazil. I am very proud of the strong and successful coffee and tea platform we have built, and I am very pleased that by handing over our coffee and tea business to JDE Peet’s, the world’s leading pure-play coffee and tea company, we are securing the long-term development and success of this great business.”
