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CapVest exits United Coffee to Japan’s UCC

  • Susannah Birkwood
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CapVest has sold United Coffee, one of Europe’s largest coffee companies, to Japanese trade buyer UCC Holdings for EUR500 million ($617 million).

The European private equity firm bought Switzerland-based United in 2008, and since then it has bolted on around 20 acquisitions and boosted revenues by 60% to EUR422 million. Partner Christopher Campbell described the transaction as "the culmination of our strategy to create a unique coffee platform in Europe by consolidating the market in a number of key countries."

United, which supplies coffee to retail chains such as UK supermarket giant Tesco and fast-food restaurant McDonald's, is run by CEO Per Harkjaer.

"This is the first Asian coffee company buying a European one," he told the Financial Times, adding that it would be good to bring the hot and chilled canned coffees UCC invented to Europe. "It would be a good stimulating drink, a bit like Red Bull."

United was founded almost 200 years ago and owns Giger, one of Europe's longest-running coffee brands. It had been in talks with UCC about the deal since last November.

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