Benchmark International is pleased to announce that flavoured coffee brand, Beanies, has joined forces with Greek counterparts, Cafetex, in a move it says could lead to significant turnover growth.
The North East-based label, which supplies major supermarkets and retailers, says the Paiania-based firm is similarly focused and the partnership creates synergies across a range of products within both firms' markets. It also brings an undisclosed cash investment, described as "significant" for Beanies, which will be used for sales 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.
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."
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 is going to be producing the 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."
Beanies, which is based out of Faverdale North, near Darlington, is now in its 10th year of trading and has recently exhibited at major food and drink conferences SIAL Paris and Gulfoods Dubai. The firm says it is looking at further overseas trips this year to tap opportunities in Japan, Saudi Arabia, the US and Malta.
Its products, including a range of unusual flavours such as sticky toffee pudding, jam doughnut and chocolate orange, are sold in UK stores such as Sainsbury’s, Aldi, Lidl and Home Bargains, as well as in overseas markets.
Mark Stangroom, Beanies sales and marketing director, said: "Not only are our domestic sales showing ongoing growth but following being granted the Queen’s Award for Enterprise (Overseas Trade) last year we are continuing to see many exciting opportunities overseas and now trade with nearly 50 countries."
Benchmark International advised the sellers on the deal, with Primas Law acting as legal advisers.
ABOUT BENCHMARK INTERNATIONAL
Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $9.4 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive M&A Advisor in the World by Pitchbook’s Global League Tables.