The Massimo Zanetti Beverage Group (MZB Group) announces the acquisition of the entire share capital of Boncafé Group, a leader in the roasting and sale of gourmet coffee and coffee machine equipment in Southeast Asia and the Middle East.
As a result of this deal, the MZB Group will reinforce its presence in these markets, with particular focus on Indonesia, Vietnam, Cambodia, Singapore, Thailand, Malaysia, Hong Kong and the UAE. The deal, worth a total value of 85 million USD, includes the acquisition of the Boncafé roasting plants in Thailand and Singapore.
“With this acquisition,” said Massimo Zanetti, President of the MZB Group “our group will have the opportunity for further expansion in the Asian market, ensuring our production and distribution capacity is sufficient to meet the growing demand for coffee in the area.
The integration of the Boncafé brand within the MZB Group will follow the criteria that have characterised our operations in the past, without making drastic changes to the successful business model and without changing its brand name, which is already well known in the region nor the top-notch management and workforce.”
With a 50 year presence and the leadership in the aforementioned markets with an EBITDA of 7 million USD in 2013, Boncafé Group is considered to be a landmark coffee brand in Asia, thanks to the European taste that has influenced its production and marketing over time.
The integration of Boncafé into the large network of companies that make up the MZB Group will guarantee the Asian player not only a leading industrial partner in all areas of coffee production, but also a financial partner that can support it and increase its presence in relevant markets, whilst also taking advantage of the opportunities offered by the new regulations in the ASEAN Free Trade Area (AFTA), effective from 1 January 2016.
Source: Massimo Zanetti Beverage Group
