Strauss Coffee buys Russia's Le Café

November 28, 2010 14:50

Strauss Group Ltd. (TASE:STRS) subsidiary Strauss Coffee BV has acquired the Le Café label, sold in Russia and CIS countries, for $37 million. Le Café also sells non-branded instant coffee in Russia and CIS countries.

Le Café had $16 million in sales in January-September 2010 compared with $23 million in 2009 as a whole.Strauss Coffee also acquired 51% of Le Café's shares for $6 million. Le Café owns buildings, warehouses and other real estate properties, which will serve as Strauss Coffee's logistics center in Russia and for the construction of a coffee products factory, which will be wholly owned by the company.

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