Lavazza to pay EUR 700m for Carte Noir
Lavazza, the Italian coffee group, is to pay EUR 700m for French competitor Carte Noir, Italian language daily Il Messaggero reported. The report cited CEO Antonio Baravalle who said that EUR 300m will come from Lavazza's own resources and EUR 400m from financing provided by BNP Paribas, Intesa Sanpaolo, Rabobank and Unicredit.
The report added that the deal closed on 29 February following approval from the European and French antitrust authorities.
Lavazza is now looking to buy other companies with a strong presence in their respective companies. The item noted that Carte Noir has a 20% share of the French market.
Il Messaggero