Strauss Group Ltd. (TASE:STRS) unit Strauss Coffee BV has acquired the Romanian coffee brand Amigo from Cia. Iguacu de Café Soluvel for $20 million. Strauss is acquiring Amigo's trademarks, domain names, and the exclusive rights to use the Amigo Formula in Romania and Bulgaria.
The Amigo brand has been well-known in Romania since 1982 and has spread to other countries in the region. It has a 1.8% share of the Romanian market and had $12.5 million revenue in 2012. Strauss Coffee has operated in Romania since 1994, mainly under the Doncafe brand, which has a 22% market share.
“This acquisition further enhances Strauss Coffee’s competitive position in the coffee category in Romania as well as in other Central and Eastern European markets," said Strauss Coffee interim manager Tomer Harpaz. "Strauss Coffee, through Strauss Romania, intends to further develop the Amigo brand in the area."
Published by Globes [online], Israel business news - www.globes-online.com - on February 4, 2014
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