Massimo Zanetti Beverage (MZB) has completed the acquisition of a 67 per cent share capital holding in PT Caswells Indonesia through its subsidiary Boncafé International Pte Ltd.
The remaining 33 per cent holding will continue to be held by an existing shareholder, who will remain as a strategic partner of the group in long run.
With this acquisition Boncafé will extend its business presence to Indonesia, a fast-growing country in terms of its annual coffee consumption growth rate.
“Acquisition of PT Caswells Indonesia fits perfectly into the group’s strategy which aims to penetrate the food service channel, as well as the single-serve market,” said the Italian company.
“This acquisition is a further milestone in MZB’s drive to build up a strong presence in Asia,” said Pascal Héritier, Chief Operating Officer of the MZB Group SPA.