Stock Report

CCL Products (India) Ltd acquires several coffee brands from Löfbergs Group

Posted On : 2023-06-08 14:23:57( TIMEZONE : IST )

CCL Products (India) Ltd acquires several coffee brands from Löfbergs Group

CCL Products (India) Ltd (CCL), India's largest 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 agreement accelerates CCL's strategy in expanding the manufacturing and distribution of FMCG products globally.

The acquisition will give CCL an 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 of 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 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".

Shares of CCL Products (India) Limited was last trading in BSE at Rs. 642.45 as compared to the previous close of Rs. 635.60. The total number of shares traded during the day was 2160 in over 162 trades.

The stock hit an intraday high of Rs. 645.00 and intraday low of 637.35. The net turnover during the day was Rs. 1381767.00.

Source : Equity Bulls


CCLProductsIndia INE421D01022 Acquisition CoffeeBrands LofbergsGroup