TEL AVIV, July 4 Food maker Strauss Group
and private equity firm TPG Capital are
examining options for the sale of TPG's 25 percent stake in
Strauss Coffee, the Israeli company said on Thursday.
Strauss noted that TPG has held the stake for five years and
said this was a "natural process" for private equity firms. TPG
paid $293 million for the stake in 2008.
"At this stage no decision has been reached regarding exit
alternatives for TPG, and Strauss Group together with TPG are
examining a number of options," Strauss said in a statement.
Strauss, a maker of snacks, fresh foods and coffee, is a
market leader in roast and ground coffee in central and eastern
Its global coffee sales fell 5.6 percent in the first
quarter to 989 million shekels ($272 million) though operating
profit in the segment jumped by nearly 45 percent. Coffee sales
were hurt by a decline in exports of green coffee from its Tres
Coracoes joint venture in Brazil.