Sara Lee Corp. announced that it has signed an agreement to acquire Café Moka, a family-owned coffee business located in the São Paulo, Brazil.
Sara Lee Corp. announced that it has signed an agreement to acquire Café Moka, a family-owned coffee business located in the São Paulo, Brazil. Café Moka serves more than 4,000 small and medium retail customers through a direct distribution system. Café Moka’s total net sales in 2007 were approximately $65 million.
"The company has a very well-established direct sales and distribution system for the growing small and medium trade segment, with ample expansion opportunities. The transaction also includes a green coffee processing plant, which will give us access to the coffee farmers in Brazil's main coffee growing state Minas Gerais and will help to advance our sustainable coffee program even further," said Frank van Oers, chief executive officer of Sara Lee's international beverage and bakery business.
According a Sara Lee press release, Brazil is the number one coffee producing country in the world and the second-largest coffee consuming country.
The transaction is expected to close in October 2008.