Italian coffee giant Lavazza has
bought 80% of Canada's Kicking Horse Coffee company, a Canadian
leader in the organic and fair-trade sector, Lavazza said
Wednesday.
The 215-million Canadian dollar deal leaves company founder
and CEO Elana Rosenfeld with 20% of the shares. She will stay on
as CEO.
"Kicking Horse represents one of those local jewels that the
Lavazza Group continues to seek in its strategy of globalisation
and premium positioning," said Lavazza CEO Antonio Baravalle,
who will become chairman of the Canadian company's board.
Lavazza said it would seek to valorise Kicking Horse's brand
equity as it has done with other recent acquisitions, of
France's Carte Noire and Denmark's Merrild.
The Lavazza family said "our experience will help a similar
company".
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