GR & UK
2023
BUY-SIDE
Sigma Catalyst Partners, our Partner in Greece, originated the transaction and acted as an M&A advisor to CAFETEX SA (Greece) acquiring a majority stake in BEANIES THE FLAVOUR CO. LTD (UK).
The two companies on April 19th 2023 in Athens, have signed the agreement for the acquisition of Beanies’ majority stake. According to their announcements the two companies have a similar focus and the strategic partnership creates synergies across a range of products in both firms’ markets. Additionally, Cafetex’s undisclosed cash investment in Beanies will be used for sales growth and marketing activities.
Cafetex produces a number of flavoured coffee products including coffee pods – a market Beanies has just entered with the launch of compostable, Nespresso-compatible pods available in the UK and overseas. Cafetex SA is one of the biggest Greek-owned coffee roasting companies in Greece, owner of the Coffeeway brand and a retail network of speciality coffee shops in Greece, with 28 shops in total. With the integration of the Beanies factory to the production, the total capacity will reach 3000 tones/year.
Beanies, which is based out of Faverdale North, near Darlington, is now in its 10th year of trading. The company is specialized in producing flavoured instant coffee, with a product range that includes a variety of unusual flavours such as sticky toffee pudding, jam doughnut and chocolate orange, being sold in major supermarket stores and retailers in UK, such as Sainsbury’s, Aldi, Lidl and Home Bargains, as well as overseas.
Beanies is looking to expand further overseas and tap opportunities in Japan, Saudi Arabia, the US and Malta.
Ioannis Benopoulos, Cafetex president and CEO, said: “This is a great match and forms a partnership with many opportunities for both companies and we are very much looking forward to working with the Beanies team. The group will be producing a complete range of flavour coffee products, aiming to become the leading specialist in the sector. Group turnover is expected to reach £20m this year, targeting a 40% growth in the next three years.”
John Evans, Beanies executive chairman, said: “Flavour coffee has experienced sustained growth on the high street in the 10 years since Beanies was created, notably through internationally known coffee shop specialists and fast food outlets. With this increased consumer interest, Beanies is in pole position to take advantage of this growth in the retail consumer sector.”
Sigma Catalyst Partners, our Partner in Greece, originated the transaction and acted as an M&A advisor to Cafetex SA.