Lavazza acquires Canada’s Kicking Horse Coffee
As foodcommunity.it previously reported, Lavazza has decided to focus on growth in North America. The Turin-based multinational coffee company acquired 80% of Canada’s Kicking Horse Coffee, an important name in the organic and fair-trade coffee segment, which in the last few years has seen a great deal of growth in Canada and the United States.
Lavazza acquired Kicking Horse for 142 million euros from the Swander Pace Capital private equity fund, which, in 2012, entered into a partnership with Jefferson Capital and United Natural Foods. Elana Rosenfeld—who founded the company in 1996 and will continue to lead it as CEO alongside Antonio Baravalle (CEO of the Gruppo Lavazza, pictured), the new president—will keep 20% of shares.
According to Baravalle, Kicking Horse is one of those “local jewels” that the Lavazza group continues to seek out as part of its own globalization and premium positioning strategy.
The Canadian roaster is specialized in organic, fair-trade coffee. These are two segments that are growing in North America and internationally. Lavazza’s acquisition of Kicking Horse follows on the heels of its acquisitions of the French company Carte Noire and the Danish company Merrild in recent years.
The Turin-based group closed out 2016 with historically record-breaking sales of 1.9 billion, with growth of 29%. Lavazza is aiming to reach 2.2 billion in sales in 2020. This is also to be accomplished via greater international development in order to become one of the most important players in coffee worldwide.