Italian coffee firm reaffirms the importance of the UK as a key strategic market and seeks to boost presence despite Brexit uncertainty
Illy has acquired Euro Brand Foods, which has distributed its products in the UK for more than 25 years | Photo via Flickr
Illycaffè intends to boost UK investment despite the risks posed by a disorderly Brexit. Highlighting the UK as a ‘strategic market’, the 86-year-old Italian firm said it will acquire the division of Euro Brand Foods that has distributed its products in the UK for over 25 years.
The acquisition, made for an undisclosed sum, comprises Euro Food’s business, assets and around 70 staff, while production will remain in Brackmills, Northampton.
Commenting on the acquisition, illycaffè CEO Massimiliano Poglianisais his firm wished to grow its UK presence.
“By internalising the distribution, we will be able to directly steer the development of the illy brand and grow the relationships we have with our UK customers.”
“We will keep investing in the UK market in order to really boost our presence there. I would like to take this opportunity to warmly thank Euro Food Brands, which has been distributing illy products during the last 25 years, significantly contributing to the success of our brand in the United Kingdom.”