The Strauss Group has reported to the Tel Aviv Stock Exchange that its subsidiary, Strauss Coffee BV, through joint venture Tres Corações (3C), will acquire 100 percent of the shares of the Mitsui Alimentos company in Brazil from Japan's Mitsui Group.
Under the agreement, 3C will pay 210 million real (approximately 167 million shekels) for Mitsui's Brazilian roasted and ground coffee operations, which hold about 3.8 percent, ranked fifth in the Brazilian coffee market. Following the acquisition, C3 is consolidating its position as the leader of the coffee market in Brazil, which tops the world in terms of volume.