JDE to Acquire JOBmeal in Sweden and Finland
Jacobs Douwe Egberts (JDE) is to acquire JOBmeal in Sweden and Finland from and Valedo Partners Fund II. Subject to a limited number of pre-closing conditions, the transaction is expected to close during the fourth quarter of 2018.
JOBmeal is a dedicated out of home coffee business, head quartered in Stockholm, offering a range of office coffee solutions to customers in Sweden and Finland. The company was established in 2000 and today employs over 370 people in the Nordics.
JDE’s coffee and tea portfolio is available in over 140 countries around the world through iconic household names including: Jacobs, Tassimo, Moccona, Senseo, L’OR, Douwe Egberts, Super, Kenco, Pilao & Gevalia.
JDE and JOBmeal are highly complementary businesses with similar cultures. The transaction will see a JOBmeal’s extensive customer base in small and medium business gain access to a wider variety of world class coffee and tea solutions including Gevalia, Piazza D’Oro, L’Or and Pickwick. The combined business also opens up new growth opportunities for JDE in Finland.
“The addition of JOBmeal to our Nordic family will enable us to expand our reach in Sweden and Finland. Together we will be better able to serve the evolving needs of customers at all levels, through a truly Nordic footprint,” says George Schoof, general manager of JDE Professional Nordics.
JDE recently formed a new joint venture coffee and tea business in Turkey after linking up with Ofcay. The partnership is expected to open up new growth opportunities in the Turkish hot beverages space, create synergies for both companies through the combination of both JDE’s International dimension and expertise in coffee with Ofcay’s local expertise in tea.
JDE, well known in Turkey for its Jacobs Brands, brings over 265 years of coffee expertise, while Ofcay, has been at the forefront of the Turkish tea category since its creation in 1985.
Under the terms of the agreement, both companies will contribute their existing local assets and will operate under the same umbrella. Ahmet Bülent Kasap will be appointed CEO of the partnership. The transaction is subject to regulatory approval, and is expected to close before the end of 2018.
