Mitsubishi Buys 20 Percent Stake In Huge Brazil Coffee Producer
Japan’s Mitsubishi Corp. has purchased a 20 percent stake in Ipanema Coffees, one of Brazil’s largest coffee producing farms.
“(T)he demand for certified coffees which Ipanema produces, has been growing by roughly 10 percent a year in developed nations such as the U.S., Europe and Japan,” Mitsubishi said in a statement.
In a separate transaction, Tchibo Austria Holding, the owner of the Tchibo coffee roasting house, bought a 16.5 percent stake in the coffee company, according to sources in a recent Reuters news report. Imanema CEO Washington Luiz Alves told Reuters that the sales will allow Ipanema to invest in equipment to make harvesting more efficient. Harvesting this season’s crop in Brazil — which is expected to be larger than average — will begin within weeks.
The full story: Reuters
Nick Brown is the editorial director of Daily Coffee News by Roast Magazine. Feedback and story ideas are welcome at firstname.lastname@example.org.