Tel Aviv, Israel, September 10 - The Strauss Group announced today the completion of the partnership agreement with TPG Capital which acquired a 25.1% stake in Strauss Coffee for US $293 million.
The investment was made based on a pre-money enterprise value of approximately $1 billion. TPG Capital was additionally granted a two-year option to acquire additional shares equivalent to 9.9% based on the current enterprise value plus 6% interest per annum from closing until exercise of the option and subject to adjustments for future dividend payments.
Strauss Group is an international branded food and beverage company based in Israel. TPG Capital is the global buyout group of TPG, a leading private investment firm with more than $60 billion of assets under management.
Avi Ben Assayag, Strauss Group's Deputy CEO and COO, said "We are pleased to welcome TPG as an investor in Strauss Coffee and look forward to their support to extend our leadership position as one of the world's leading coffee businesses."
Geoffrey Fink, who leads TPG Capital's business in Eastern Europe and Israel, said "We are delighted to be closing on this exciting investment. Strauss Coffee has demonstrated impressive growth, and we look forward to working with management to accelerate the company's international expansion."