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Andrea Illy, the boss of the Illy cafes, denies any intention to sell
The high-end Illy coffees arouse envy. After the Swiss giant Nestlé, a few months ago is, according to Bloomberg agency, the turn of JAB, the investment vehicle of the family Reimann, owner of Dr. Pepper or Keurig Green Mountain, to make the eyes sweet to the Italian family. The Luxembourg fund has built up an empire in the cafe with buyouts, as the 2000 Panera cafes acquired in April 2017 for $ 7.2 billion. Today, he would seek to raise 5 billion euros.
Andrea Illy chairman of the Board of Illy acknowledged having "regular contact with these companies, as with almost every other in the industry to discuss issues non-competitive products such as coffee and health, climate change and market standards ". On the other hand, he added, "all business agreement badumptions were deemed inappropriate".
David against Goliath
Founded in 1933 by Francesco Illy, the Trieste company achieved a turnover of 460 million euros in 2016, an increase of 5.6% compared to the previous year . Active in 140 countries, it is a niche independent player with a market share of 0.2% in a sector in full consolidation dominated by Nestlé, JAB and Starbucks. According to Kepler Cheuvreux badyst Jon Cox, Illy bidding could start at 1.6 billion euros.
In the face of the weakest growth in its history, Nestlé has made no secret that coffee is one of its priorities. It controls 22% of the market. Last May, the Swiss giant spent 7.15 billion euros to acquire the license on Starbucks products sold in supermarkets. He also took a majority stake in Blue Bottle coffee shops in 2017.
The Illy holding company is looking for a financial partner for its other activities by 2019 and could decide to put its chocolate and tea on the stock market, said its president Riccardo Illy in an interview with the Italian daily "La Repubblica".
Marie-Josée Cougard
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