Lavazza exits coffee shop biz in India; sells Barista brand
Quotes

Lavazza exits coffee shop biz in India; sells Barista brand

Last Updated: Tuesday, August 12, 2014, 18:15
 
 Comment 0
 
Lavazza exits coffee shop biz in India; sells Barista brand
New Delhi: Italian coffee brand Lavazza Tuesday announced exit from coffee shop business in India by selling its Barista brand to Carnation Hospitality.

The company, however, will continue to supply coffee to Barista through a long-term supply agreement.

Lavazza in a statement said it has decided to lay greater focus on its core business, which is coffee.

Commenting on the announcement, Lavazza CEO Antonio Baravalle said: "The decision to move out of Barista has been taken accordingly with the global business guidelines of the group to no longer manage directly the coffee shop business."

Talking about the Indian market, Baravalle said: "India continues to remain an extremely important market to Lavazza's international operations and it is strategic to the brand's overall growth initiatives across the world."

He added that Lavazza will continue to develop its our presence in the country. The company has a production facility in Sri City in Andhra Pradesh, its only production facility outside Italy.

Lavazza bought the café brand Barista in 2007 and has sold the coffee shop chain with over 190 cafés to Carnation Hospitality Pvt Ltd.

In the deal, Lavazza has been assisted by Rothschild, as financial advisor, and Desai & Diwanji, as legal advisor.


PTI

First Published: Tuesday, August 12, 2014, 18:15


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved