Strauss Coffee buys Russia's Le Café

By GLOBES
November 28, 2010 14:50

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

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.

Related Content

Breaking news
August 19, 2018
BREAKING: Drive-by Shooting in Tel Aviv

By JERUSALEM POST STAFF