Strauss Elite buys 26% of Coffee to Go
Strauss-Elite has signed a deal to purchase 26 percent of the shares in Coffee to Go, which operates coffee carts in locations throughout Israel.
A source in the food retail sector estimates that the deal was concluded at around $2 million. Completion of the transaction is subject to the approval of the antitrust commissioner.
Strauss-Elite holds an option to purchase further shares up to a holding of 50 percent of the company. Joint operations of the two will be conducted under the brand name "elite coffee."
Cooperation between the companies began a few months after coffee manufacturer Elite invested NIS 3 million in rebranding its chain of coffee carts under the name elite coffee.
Coffee to Go was founded in 1994 and operates coffee carts at around 40 points of sale throughout the country, located in train stations, educational institutions, hospitals and so on, in addition to operating a cafe at Tel Aviv University. The company employs some 250 workers.
"Up to now we've branded 20 points of sale, and in the next two months we'll complete rebranding of another 20 points of sale," said CEO of Strauss-Elite coffee company, Shelley Shalit-Shuval.
"As the leading coffee-marketing company, we chose to join the cafe trend through the group's and the Lavazza brands," added CEO of Strauss-Elite group, Giyora Bar Dea.
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