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TPG Capital to sell Israeli Strauss Coffee stake

TPG acquired 25% of  Strauss Coffee in 2008 for $293 million.

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Ofra Strauss / Bloomberg

/ By Ilan Shavit / 

Strauss Group Ltd. (TASE:STRS) today announced that TPG Capital was considering options to sell its minority stake in Strauss Coffee. This is following five years of partnership with Strauss Group, “and regular practice of investment funds”, as Strauss put it.

Strauss added that it was conducting the review of TPG’s exit options together with the investment fund , and that it “continues to regard Strauss Coffee as a major part of its activity, and will continue to support Strauss Coffee’s development and growth.”
TPG Capital acquired 25.1% of Strauss Coffee for $293 million in September 2008, reflecting a company value of $1.16 billion for the business. TPG had an option to acquire an additional 10% of Strauss Coffee for €106 million, but never exercised it.

 

About Strauss Group

Leadin by Ofra Strauss, the Strauss Group from Nahariya, Israel, become a multinational food and beverage company which employs about 14, 000 employees, operating 25 production sites in 20 countries.

In the last eight years, Strauss Group having generated approximately $2.3 billion in annual revenue in 2012, of which 51% came from international activities. Strauss Group is comprised of five companies: Strauss Israel, Strauss Coffee, Strauss PepsiCo Dips & Spreads, Strauss Water and Max Brenner.

 

About TPG Capital

Founded by  David Bonderman,  James Coulter and William S. Price III,  in 1992,  TPG become a leading global private investment firm with $56.7 billion of capital under management.

TPG has built a strong international presence with 17 offices in 10 countries in Asia and Europe. Industries include technology , telecom, healthcare, business services, media, commodities, retail, consumer products, financial services and hospitality. Among them landmark transactions such as Lenovo, Korea First Bank, Shenzhen Development Bank, Myer Department Stores, Parkway Holdings and Shriram Transport Finance.

 

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