MEDELLIN, Medellin — Grupo Nutresa S.A. announces the acquisition of 100% of the shares of CCDC OPCO Holding Corporation, a Delaware (U.S.) corporation, and owner of 100% of Cameron’s Coffee and Distribution Company, a Minnesota (U.S.)-based company specialized in the production and distribution of premium roasted and ground coffee.
In accordance with the acquisition agreement, the Enterprise Value (EV) paid by Grupo Nutresa for the Cameron’s Coffee business was established at USD 113 million. Cameron’s Coffee’s sales for the last twelve months as of July 31 of 2019 amount to USD 72 million.
This acquisition allows Grupo Nutresa to strengthen its international footprint in one of the largest and most dynamic coffee markets in the world. In addition, Cameron’s Coffee has a deep alignment with Grupo Nutresa’s core business model, which emphasizes iconic brands, strong go-to market capabilities, and talented and committed teams.
The Company
Cameron’s Coffee has nearly 40 years of experience in the production and distribution of premium roasted and ground coffee in various bag and pod delivery systems. Through the Cameron’s brand, the company offers its consumers an innovative value proposition, which integrates a high-quality product with convenience and a vision of sustainability.
Located in Shakopee, Minnesota (U.S.), Cameron’s Coffee operates primarily in the Midwest market, where it is positioned as the fastest growing brand in the market it serves. The company has also started its expansion to other regions within the U.S. with excellent results.
This transaction will enable Grupo Nutresa to capture important synergies in the U.S., where Cameron’s has presence in the modern channel with several retail relationships in premium coffee that we will continue to grow, and which complement the distribution network and portfolio that Grupo Nutresa currently has in the country.
The acquisition is expected to generate new avenues of profitable growth for Nutresa, by connecting the sales network, production capabilities, and the Cameron’s brand with the scale and resources of Grupo Nutresa in the region.
The Team
The company has a talented and committed team, with extensive experience in CPG, that has run the company successfully over recent years. Grupo Nutresa is confident that, alongside this group of professionals, will achieve the objectives set for the company and for the Group in the long term.
Cameron’s Coffee will continue to operate locally, retaining its entrepreneurial spirit and the agility that has made the brand so successful. It will also have access to the leadership and support of Grupo Nutresa’s Coffee Business, and to the resources and capabilities of the entire Grupo Nutresa organization to accelerate its growth.
The Transaction
The Company was part of the portfolio of Goldner Hawn, L.P., a private equity fund based in Minneapolis, Minnesota, with 30 years of experience investing in businesses focused on consumer products and services, industrial manufacturing and value-added distribution, among others.
Tully & Holland, Nixon Peabody and EY acted as advisors for Grupo Nutresa.
The financing of the transaction was carried out with internal resources and credit facilities at competitive rates.
Grupo Nutresa’s CEO, Carlos Ignacio Gallego expressed: “This acquisition is a new step in Grupo Nutresa’s internationalization process and is aligned with our objective of improving the quality of life of consumers through conscious brands, affordable products and innovative, differentiated value propositions. Through Cameron’s Coffee, Grupo Nutresa strengthens its international presence in a fast-growing and dynamic category, which offers multiple opportunities for sustainable long-term value creation through effective, differentiated innovation”.
