Massimo Zanetti Beverage USA (MZB), the North American operating unit of the Italy-based global coffee roaster and marketer Massimo Zanetti Beverage Group, has acquired a minority equity stake in Club Coffee of Toronto, Canada.

This investment is expected to bolster sales growth through innovations. It will enable MZB to expand its reach in Canada and Club Coffee to boost its presence in the US.

MZB’s equity investment was announced in November 2015. The deal was closed on 28 April, 2016.

“With this acquisition, MZB will own a 15.1% stake in Club Coffee, which has been bought for C$15.1m ($12m).”

With this acquisition, MZB will own a 15.1% stake in Club Coffee, which has been bought for C$15.1m ($12m).

Although the November 2015 announcement stated MZB’s purchase of a 25.1% stake immediately, it has since then decided that the initial purchase would be for a 15.1% stake with an option for MZB to increase that stake by up to an additional 10%.

This two-stage investment decision was made due to the uniqueness and complexities of the associated manufacturing processes and the timing of MZB’s launch in the US of new products.

MZB retains the right to exercise this option for a period of thirteen months following this initial purchase.

MZB USA president and chief executive officer John Boyle said: "This equity stake demonstrates our enthusiasm for Club Coffee’s commitment to technology that delivers this simple solution. It also underscores our determination to build market leadership through the innovation and the quality our consumers demand and have grown to expect from us."