Strauss Coffee B.V. signed an agreement with Cia Iguacu de Café Soluvel to buy the Amigo coffee brand, sold mainly in Romania.
Amigo is a brand well-known on Romanian market since 1982 and, meanwhile, started selling also in other countries in the area. Amigo was evaluated to a net business turnover of $12.5M in 2012 and its market share is 1.8% on Romanian coffee market. The selling agreement is waiting for an approval from the Competition Council.
Strauss Coffee will pay $20M to buy the brands, domain and the exclusive rights to use Amigo formula in Romania and Bulgaria.
Strauss Coffee is present on Romanian market since 1994 and is known mainly for Doncafe brand.