MILAN, March 22 Italian coffee roaster Massimo
Zanetti aims to boost its presence in the Brazilian
market by acquiring a local coffee brand, Chief Operating
Officer Pascal Heritier told Reuters on Wednesday.
The group, which owns the Segafredo, Chock full o'Nuts and
Puccino's coffee brands, went public in June 2015 to raise fund
expansion plans at the company founded by the Zanetti family of
coffee merchants in northeastern Italy.
The group has been growing through acquisitions since the
1970s and last year bought Portugal's Nutricafes for about 75
million euros ($80.5 million).
"We want to expand in Latin America ... we are looking for a
strong brand to buy in Brazil," Heritier said on the sidelines
of a conference in Milan.
Heritier said the group was looking for a brand with a good
distribution network that it could use to boost sales of its own
Segafredo brand in the Latin American country, the world's
biggest green coffee producer.
He declined to give details on possible targets.
Massimo Zanetti generates more than 60 percent of its
revenue in the United States, with Brasil accounting for less
than 5 percent of its 918 million euro turnover.
The group, which sells products ranging from mass-market
packs to coffee pods, is also studying smaller acquisitions in
the Asia Pacific region, Heritier said.
($1 = 0.9252 euros)
(Reporting by Francesca Landini and Elisa Anzolin; Editing by