October 14, 2019 / 2:33 PM / a month ago

Italian coffee maker Massimo Zanetti buys Brazil's Cafe Pacaembu

MILAN (Reuters) - Massimo Zanetti (MZB.MI) has bought Brazil’s Cafe Pacaembu to expand its footprint in the country, the second-biggest market for coffee consumption in the world, the Italian group said.

The brand of Cafe Pacaembu, which was founded in 1957, will add to Segafredo, Puccino’s and other coffee labels already in the portfolio of Massimo Zanetti.

The Italian coffee maker did not disclose the financial details of the deal.

Reporting by Francesca Landini

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