Israeli food retailer Strauss Elite signed a deal with a Brazilian coffee manufacturer, making it the second largest player in Brazilian coffee market. Strauss Elite's subsidiary, Tres Coracoes, will merge with Santa Clara, one of the largest coffee companies in Brazil. The new merger will be equally owned by the Israeli company and the Brazilian company. Strauss Elite will funnel $60 million to the new firm. The merged company will manufacture roasted ground coffee, cappuccino, instant coffee and chocolate drinks powder, and handle the processing and storing of green coffee. “This deal represents a breakthrough in Strauss Elite's way to become a leading factor in the ground coffee market, as well as in emerging markets,” said Ofra Strauss (photo), Elite chairman.
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