In February, Strauss Coffee announced it bought Amigo, which is sold mainly in Romania, for $20 million, from Brazilian company Cia Iguacu de Café Soluvel.
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.
Panfoods Romania, part of UK-based Panfoods Co. Ltd, has been the exclusive importer of the Amigo brand to Romania since 2002.
In 2012, Panfoods Romania, which has 68 employees, registered sales of 52 million lei (EUR11.8 million), up 2.3% from 2011, and 67% lower net profit, of RON1.4 million (EUR331,000).
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 2012, Strauss Romania reported sales of RON235 million (EUR53.3 million), up 10% from 2011, and loss of RON10.9 million (EUR2.48 million), down 28%.
Strauss Romania general manager, Marius Melesteu, also runs the operations in Serbia, Bulgaria, Moldova, Montenegro, Bosnia Herzegovina, Albania and Macedonia.
Strauss Coffee operates in 20 countries, has 14 factories and boasts annual sales of over $1 billion.