Israelis conquer Brazil's coffee industry

Navit Zommer

Israeli food retailer Strauss Elite signs merger deal with Brazilian coffee manufacturer, which will place company as second largest player in Brazilian coffee market

Strauss Elite, one of Israel's leading food retailers, is set to become Brazil's second largest coffee manufacture, after signing a merger deal with local coffee company Santa Clara this week, Israel's leading newspaper Yedioth Ahronoth reported Sunday.

In the framework of the agreement, Strauss Elite's subsidiary, Tres Coracoes, will merge with Santa Clara, one of the largest coffee companies in Brazil, owned by the Lima brothers. The new merger will be equally owned by the Israeli company and the limas.

Strauss Elite will funnel USD 60 million to the new firm, and will jointly manage it with its partners.

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