May 7 (Reuters) - Mondelez International Inc and D.E Master Blenders 1753 BV said they would combine their coffee businesses to create a company with annual revenue of more than $7 billion.
Mondelez will receive about $5 billion and a 49 percent stake in the new company, Jacobs Douwe Egberts.
U.S.-based Mondelez’s coffee portfolio outside of France will be combined with those of Netherlands-based D.E Master Blenders.
Acorn Holdings BV, the owner of D.E Master Blenders and majority owner of the new company, has also made a binding offer for Mondelez’s coffee business in France, the companies said.
Reporting by Maria Ajit Thomas in Bangalore; Editing by Sriraj Kalluvila