Dutch multinational adds Kiwi tea and coffee brands to its stable
JDE says it will launch its New Zealand brands into export markets after receiving Overseas Investment Office approval.
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Dutch coffee giant has Jacobs Douwe Egberts (JDE) has received Overseas Investment Office approval for the acquisition of BrewGroup NZ (formerly Bell Tea & Coffee Co).
The price is undisclosed and the approval comes with conditions that the company explore opportunities to increase exports and put some of its Kiwi brands on the global stage.
JDE Australia and New Zealand managing director David Ansell says the acquisition will be completed by December 1.
The two companies will continue to operate as separate operating units for the next two months with integration to begin in February 2017.
BrewGroup is noted for its New Zealand-developed tea and coffee brands led by Bell, Jed’s, Burtons, Gravity and Ti Ora. By contrast, JDE has built up a large stable of international brands such as Moccona.
Chief executive Mark Hamilton is leaving the business as chief executive but will remain on the JDE NZ board as a non-executive director.
“This is a defining moment for the New Zealand coffee and tea category. It also provides brands such as Jed’s and Ti Ora the opportunity to be sold in Australia and beyond,” Mr Ansell says.
"We have agreed to continue to invest in New Zealand to grow our business locally and to create new export opportunities. This acquisition is a marriage made in heaven as we seek to further improve consumer choice across the coffee and tea category.”
Nevil Gibson
Wed, 16 Nov 2016
Wed, 16 Nov 2016
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Dutch multinational adds Kiwi tea and coffee brands to its stable
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