In the third quarter of 2013, Strauss Coffee reported sales of 56 million shekels.
In January-September, the company’s sales fell 1% to 168 million shekels (EUR34.9 million), due to the eroding exchange rate of the Romanian leu against the shekel. In local currency, January-September sales rose 1.1%.
In February, Strauss Coffee announced it bought instant coffee brand Amigo, which is sold mainly in Romania, for $20 million, from Brazilian company Cia Iguacu de Café Soluvel.
After Romania’s Competition Council approved the acquisition of Amigo, the company announced it ranks second on the Romanian instant coffee market after Nestle, and plans to become the biggest player on the local market.
Instant coffee brand Amigo has been present in Romania since 1983. In 2012, it registered sales of $12.5 million and a volume market share of 1.8%. Subsequently, the brand reached other markets in the region.
Strauss Coffee has been present in Romania since 1994 and is the largest coffee producer on the local market. In 2012, its brand Doncafe registered a volume market share of around 22%.
In 2013, Strauss Romania reported a turnover of RON213 million (EUR48.2 million), down 9.5% on the year, while losses narrowed 59% to RON4.5 million (EUR1 million).