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GLOBAL 1/ – Strauss in initial talks to sell Russia coffee activity

strauss-group Strauss vendite Il logo di Strauss Grou
Il logo di Strauss Group

MILAN – Israeli food corporation Strauss Group is conducting negotiations for the sale of its coffee activity in Russia, Israeli and international media report.

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The negociations are underway with a strategic buyer.

The parties have yet to sign an agreement and are currently conducting due diligence.

Russia currently accounts for a fifth of Strauss’s coffee sales, and a tenth of the company’s total revenue.

If a deal is signed, Strauss is expected to gain over $200 million.

The reason for Strauss’s decision to sell is unknown. Strauss has declined comments on the matter.