Massimo Zanetti Beverage (MZB), an Italy-based coffee firm, has acquired 100% stake in Boncafé Group, for around $85m.

Through the transaction, MZB acquired roasting operations of Boncafé across Thailand and Singapore.

According to MZB, the acuqisition will enable the company to strengthen its presence in Indonesia, Vietnam, Cambodia, Singapore, Thailand, Malaysia, Hong Kong and the UAE.

Also, the company will become a financial partner for Boncafé, by helping it increase its presence in relevant markets.

MZB Group president Massimo Zanetti said, "The integration of the Boncafé brand within the MZB Group will follow the criteria that have characterised our operations in the past, without making drastic changes to the successful business model and without changing its brand name, which is already well known in the region nor the top-notch management and workforce."

During the previous year, Boncafé Group has recorded an EBITDA of $7m. The company roasts and sells gourmet coffee and coffee machine equipment across Southeast Asia and the Middle East.

MZB plants, processes, distributes, exports, and sells green and roasted coffee in Europe, North and South America, Asia, Central America, the Middle East, and Oceania.

The company’s portfolio includes Segafredo Zanetti, Chock full o’Nuts, Kauai and Hill Bros in US and Meira in Finland.

Image: Exterior of Boncafe’s building. Photo: Courtesy of Massimo Zanetti Beverage Group.