Reported 4 months ago
Swiss coffee trader Sucafina SA is set to acquire Mercon Coffee Corp.'s unit in Vietnam, expanding its presence in the leading producer of robusta beans used for instant coffee. The acquisition is being made through Sucafina's local subsidiary, following Mercon's Chapter 11 bankruptcy filing in New York. This move comes amidst a heated robusta market with futures in London rising significantly this year due to reduced production in Vietnam. Sucafina has been strategically expanding its operations globally, with recent acquisitions and office openings in various countries.
Source: YAHOO