Italian coffee giant Lavazza has bought 80% of Canada's Kicking Horse Coffee company, a Canadian leader in the organic and fair-trade sector, Lavazza said Wednesday. The 215-million Canadian dollar deal leaves company founder and CEO Elana Rosenfeld with 20% of the shares. She will stay on as CEO.
"Kicking Horse represents one of those local jewels that the Lavazza Group continues to seek in its strategy of globalisation and premium positioning," said Lavazza CEO Antonio Baravalle, who will become chairman of the Canadian company's board.
Lavazza said it would seek to valorise Kicking Horse's brand equity as it has done with other recent acquisitions, of France's Carte Noire and Denmark's Merrild.
The Lavazza family said "our experience will help a similar company".
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