Colombia’s Grupo Nutresa Acquires Cameron’s Coffee for $113 MillionFFOL Editor 1
Cameron’s has been roasting coffee since 1978, although the company grew by leaps and bounds under the leadership of longtime CEO Bill Kirkpatrick — who remains the company’s head buyer — upon opening its massive production roastery in the far southwest Minneapolis suburb of Shakopee in 2008. The company currently distributes Cameron’s brand coffee primarily to grocery outlets in 48 states, with its strongest market share in the Midwest.
According to Grupo Nutresa — a multinational conglomerate that specializes in packaged food in numerous categories, including coffee, chocolate, cookies, ice cream and pasta — Cameron’s Coffee sales for the year ending July 31, 2019, totaled $72 million.
“This acquisition allows Grupo Nutresa to strengthen its international footprint in one of the largest and most dynamic coffee markets in the world,” Grupo Nutresa said in an announcement of the purchase. “In addition, Cameron’s Coffee has a deep alignment with Grupo Nutresa’s core business model, which emphasizes iconic brands, strong go-to market capabilities, and talented and committed teams.”
Cameron’s will continue to operate in Shakopee, while drawing support from Grupo Nutresa’s existing coffee business. The Medellín, Colombia-based company currently has four coffee production plants in Colombia, plus one in Malaysia, with its largest focus currently on the instant/soluble coffee market. The company says its coffee division sales globally totaled approximately USD $287 million in 2018.
Cameron’s, meanwhile, updated its packaging earlier this decade to reflect its aspirations within the higher end place on the grocery shelves, adding the title “Cameron’s Specialty Coffee” to all its bags.
Said Grupo Nutresa CEO Carlos Ignacio Gallego, “Through Cameron’s Coffee, Grupo Nutresa strengthens its international presence in a fast-growing and dynamic category, which offers multiple opportunities for sustainable long-term value creation through effective, differentiated innovation.”
The acquisition involved 100% of the shares of CCDC OPCO Holding Corporation, the Delaware owner of 100% of Cameron’s Coffee.
Nick Brown is the editor of Daily Coffee News by Roast Magazine. Feedback and story ideas are welcome at publisher (at) dailycoffeenews.com, or see the “About Us” page for contact information.