Russia

Strauss Coffee, the fifth-largest coffee company in the world in terms of green coffee procurement volumes and subsidiary of Strauss Group, announced its acquisition of the Ambassador brands of freeze-dried instant coffee, roast coffee and ground coffee from Sucafina Group SA.

Seen by Strauss Group as an integral part of their overall strategy of continued expansion in Russia and the CIS markets, the Ambassador brands of coffee – sold in Russia, Ukraine and Moldova – were acquired through Strauss Coffee BV (74.9% owned by Strauss Group and 25.1% owned by TPG Capital), for US$10.4 million in accordance with its plans to further develop Ambassador as a premium coffee brand. In 2010, Strauss Coffee reported revenues of €675 million (US$970 million), operating mainly in Central and Eastern Europe, Israel and Brazil. The company also deals in coffee related products for the in-home and away from home markets such as coffee shops, restaurants, hotels and offices.