Strauss will pay less for the coffee maker whose acquisition in Brazil has been completed


Five months after Teres Corsoas – the joint venture between Strauss Coffee and Sao Miguel FIP – signed an agreement to acquire 100% of the shares of Miotsi Elimentos

(Mitsui Alimentos) In Brazil, the transaction was completed at a reduced price due to currency differences.

Read more in Calcalist:

The transaction was completed for 216 million rials, compared to the amount at the time of signing, which was 210 million rials. However, it was the erosion of the real in relation to the shekel that led to adjustments made near the completion of the transaction and caused the consideration in shekels to be reduced by 15% to an amount of NIS 142 million instead of the NIS 167 million that buyers were supposed to pay. The consideration may further vary, subject to further adjustments, inter alia, following the examination of working capital at the date of completion.

Coffee Beans Photo: Shatterstock

Mitzui owns about 3.8% of the coffee market in Brazil and is the fifth largest player in the country. According to data provided to Strauss, in 2019, Mitzui Alimentos’ revenues in the field of roasted and ground coffee amounted to approximately NIS 245 million.

The deal is in addition to additional acquisitions made by Teres Corsoas in recent years in Brazil. In 2012 it acquired the Fino Grao brand, two years later it acquired the ITAMARATY brand, in 2016 it acquired the Cia Iguacu brand and last year Manaus.


Please enter your comment!
Please enter your name here