CCL Products (India) Ltd (CCL), an instant coffee manufacturer has acquired Percol, Rocket Fuel, Plantation Wharf, The London Blend, Perk Up and Percol Fusion from Food Brands Group, a subsidiary of Löfbergs Group, the company announced through an exchange filing. The agreement accelerates CCL’s strategy in expanding the manufacturing and distribution of FMCG products globally.
The acquisition will give CCL access to major supermarkets in the UK, which is Europe’s largest instant coffee market with annual retail sales of US$850m (INR 69,187 BN). Percol is a much-loved progressive brand, launched in 1987 which achieved several notable milestones and has stood for sustainability all along. The Percol product range currently comprises Instant Coffee, Roast & Ground Coffee and Coffee Bags. Incidentally, CCL had been a preferred supplier of some of their SKUs and blends in the past.
Commenting on the acquisition, CCL CEO Praveen Jaipuriar said “We’ve had tremendous success in developing a consumer brand proposition at home and welcome the opportunity to develop a similar approach in other markets by adopting and improving local brands. Percol is an exciting venture and a brand with an undoubted favourable heritage. In close cooperation with our UK sales & marketing partner we will innovate, introduce new products and focus on B2C and B2B marketing to realise value for our shareholders, employees, partners & clients”.
Daniel Styrenius of Löfbergs Coffee Group, commented on the sale and said “Percol is a tremendous brand and one which we are proud to have been the custodian for since 2013. The sale allows us to focus on the Löfbergs Roast & Ground and Whole Bean business which is growing rapidly in the UK”.
