Italian coffee company Lavazza acquires Carte Noire

(AGI) Paris, Mar 10 - The Italian coffee manufacturer Lavazza has bought France's leading coffee brand Carte Noire. The agreement, signed on February 29, was officialised on Thursday during a joint press conference in Paris. Lavazza, whose turnover rose by 8 percent in 2015 to 1.4 billion euros, now projects that it will reach 1.7 billion euros in 2016. "The acquisition of Carte Noir by Lavazza links two companies that share a similar history, image, culture and quality," said Lavazza's managing director, Antonio Bavarale. The deal was worth 700 million euros. A pool of four banks - Intesa Sanpaolo, BNL-BNP Paribas, Rabobank, and Unicredit - financed Lavazza with 400 million euros with a medium-term deadline. The acquisition includes Carte Noire's brands and business in Europe, and a 5-year license for the Senseo brand in Austria. Carte Noire is France's leading coffee company with a 20 percent share of the retail market. "We're very pleased with this acquisition which we won't hesitate to call a perfect marriage and makes the entire group stronger," the group's Vice President Giuseppe Lavazza commented. At 20 percent of overall revenue, France is the second-largest market for Lavazza, which totals 55 percent of its sales abroad and 45 percent in Italy. Lavazza counts 500 employees in France. (AGI). .