Italy’s illycaffe buys its British distributor

Italian coffee roaster illycaffe has bought its distributor in Britain, signaling its confidence in the market in spite of uncertainties surrounding the country’s looming exit from the European Union.

The acquisition also represents something of a departure for the family-owned group, which has previously focused mainly on organic growth since its foundation in 1933.

Illycaffe, which produces and sells a blend made by nine varieties of Arabica beans, said it would acquire the division of Euro Food Brands that has been selling its products in Britain for more than 25 years.

Reuters