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News
21 may 2010
Lavazza acquires Onda Coffee Break
With the assistance of the Italian and Bulgarian teams of M&A International Inc., Lavazza has acquired Onda Coffee Break - the largest coffee shop chain in Bulgaria.
Lavazza is one of the largest “espresso” coffee producers in the world, leading the Italian retail market with a 46.7% market share in value. The Group is present in over 90 countries and covers the “at home” and “away from home” (foodservice, vending machines, coffee shops) businesses, with a turnover of over € 1.1 billion.
The acquisition, in line with Lavazza’s international growth strategy, represents an important investment to consolidate the Group presence in Bulgaria where espresso coffee consumption is growing rapidly. As a result of this transaction Lavazza acquires 11 shops, located in the main streets and shopping centers in Sofia.
The financial commitment, including both the acquisition and planned investments for expansion in the next 3 years, amounts to about € 6 million. Lavazza will gradually increase the visibility of its own brand within the Onda chain, aiming at turning its coffee shops into a showcase for the authentic Italian espresso in Eastern Europe.
Onda Coffee Break was controlled by Global Finance, the largest private equity fund in the region, together with local smaller shareholders.
Arietti & Partners and Entrea Capital originated the deal and assisted Lavazza throughout the acquisition process, until the closing in May 2010.