Opening the firm’s new Turin headquarters, Lavazza Vice-President Giuseppe Lavazza told reporters that separate offers from major rivals had been rejected in the last 3 years. “We have always attracted suitors,” he said.

JAB Holdings and Nestle have both sought to solidify their hold on the global coffee market in recent years, with the former swallowing big names such as Douwe Egberts, Panera Bread Co and Peet’s Coffee & Tea and the latter taking a majority stake in US speciality brand Bluebottle and acquiring Chameleon Cold Brew.

Lavazza too has a record coffee market consolidation. In 2017, the firm purchased Canadian organic coffee firm Kicking Horse, France’s ESP and Italian coffee pods and machines company Nims. In 2015 Italy’s largest coffee roaster by group sales bought French coffee brand Carte Noire and Denmark’s Merrild.

Lavazza said last month that it would focus on “organic growth” after posting a 12.5 per cent rise in 2017 profits to 460m euros.

However, some industry analysts have warned that Lavazza risks being eclipsed by rivals, a forecast that has been rejected by Giuseppe, who said the 123-year-old company would increase sales to 2.2bn euros by 2020. “We think we can reduce the risk of being cornered,” he said.