Nestle to acquire Bonjorno Cafe’s owner for EGP400-500mn
Nestle SA announced it has signed an agreement to acquire 100% of Caravan Marketing Company, which is the owner of the Bonjorno instant coffee brand. According to Al Mal, the value of the transaction is between EGP400-500mn and will take place during the next six weeks. The acquisition will help Nestle expand the coffee brand as it will combine Caravan’s distribution capabilities and retail presence with Nestle’s strong marketing capabilities, said the CEO of Nestle Egypt. (Company disclosure, Al Mal)
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