Sat, Feb 11 2012

Kraft's coffee grows stronger

Thu, Apr 12 2001 15:00 CET

byNickolay Grigorov

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Last week, Kraft Foods Bulgaria announced that it had completed the acquisition of Nova Brasilia coffee. The company acquired 100 per cent of the coffee business from IFJ SAL, a Beirut-based distributor, in a deal brokered by PricewaterhouseCoopers.

At the time of the acquisition, Nova Brasilia was a leading brand on the Bulgarian market. According to research conducted by A.C. Nielsen and BBSS Gallup - market research firms - the Nova Brasilia products held a 70 per cent market share. Products sold under this brand name include, roasted coffee, soluble coffee, and decaffeinated coffee.

Despite the publicity of the deal, its financial terms were not disclosed. In a separate announcement, PricewaterhouseCoopers said that it was one of the largest private sector deals in the country. The deal's review by the Competition Protection Commission lends support to that claim.

"We are very happy to complement our existing confectionery business with this strong coffee business," said Michel Boon, Kraft Foods International Area Balkans director. "Coffee is a core business of Kraft Foods worldwide, and this acquisition fits perfectly into our overall portfolio. We believe that we will be able to build upon a leading position in this coffee market."

In the first three months of 2001, Kraft Foods International has been on an acquisition spree. On February 6, it acquired the second largest coffee business in Romania. Supreme Imex Romania, commonly known as Nova Brasilia (no relation to the Bulgarian brand), sold all its brands to the multinational.

"These businesses will give us a much broader presence across all segments of the category," said Boon. "Our current position in the premium sectors of these markets will be complemented and enhanced with the higher volume and everyday popularity of these products."

Kraft Foods Bulgaria currently produces and markets Svoge, Moreni and Suchard confectionery products, and imports the Milka and Tang products. It is a subsidiary of Kraft Foods International, part of Kraft Foods, the global business of Philip Morris Companies Inc.

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