MILAN, March 22 (Reuters) - Italian coffee roaster Massimo Zanetti aims to boost its presence in the Brazilian market by acquiring a local coffee brand, Chief Operating Officer Pascal Heritier told Reuters on Wednesday.
The group, which owns the Segafredo, Chock full o’Nuts and Puccino’s coffee brands, went public in June 2015 to raise fund expansion plans at the company founded by the Zanetti family of coffee merchants in northeastern Italy.
The group has been growing through acquisitions since the 1970s and last year bought Portugal’s Nutricafes for about 75 million euros ($80.5 million).
“We want to expand in Latin America ... we are looking for a strong brand to buy in Brazil,” Heritier said on the sidelines of a conference in Milan.
Heritier said the group was looking for a brand with a good distribution network that it could use to boost sales of its own Segafredo brand in the Latin American country, the world’s biggest green coffee producer.
He declined to give details on possible targets.
Massimo Zanetti generates more than 60 percent of its revenue in the United States, with Brasil accounting for less than 5 percent of its 918 million euro turnover.
The group, which sells products ranging from mass-market packs to coffee pods, is also studying smaller acquisitions in the Asia Pacific region, Heritier said. ($1 = 0.9252 euros) (Reporting by Francesca Landini and Elisa Anzolin; Editing by David Goodman)
Our Standards: The Thomson Reuters Trust Principles.