The Austrian coffee roaster is seeking to nearly double its US revenues by 2025 and strengthen its foothold in the market
Julius Meinl is seeking to nearly double its US revenues by 2025 | Photo credit: Julius Meinl
Julius Meinl has acquired a trio of US distributors as it seeks to nearly double its US revenues by 2025.
The Austrian coffee roaster said it completed deals to take control of Sovereign Coffee & Tea based in Orlando along with Miami-based firms, Paramount Food & Beverage and Restaurant Beverage Service (RBS), in late 2021.
The acquisitions form part of company’s goal to grow its US net sales from €6.4m ($7.2m) in 2021 to €12m ($13.5m) by 2025 and will contribute to the Julius Meinl Coffee Group's “midterm goal” of €300m ($339m). They will also provide a strategic foothold for the brand as it seeks to build its presence in the US market, which it first entered in 2015.
“Having established Julius Meinl as a leading premium coffee and tea supplier within Florida, our new acquisitions will enable us to serve other exciting destinations across the USA,” Razvan Talpau, Managing Director, Julius Meinl North America.
“At a time when we mark our 160th anniversary and celebrate the role the brand has played in inspiring meaningful moments worldwide, we are looking to the future. We believe that the US hospitality sector offers many opportunities as increasing numbers of customers come to appreciate the premium coffee experience that Julius Meinl is well-known for,” said
Marcel Löffler, Julius Meinl Coffee Group CEO.
Julius Meinl is the latest major European roaster to focus its attention on the US retail coffee market. In late 2020, Tchibo partnered with distribution company Rainmaker Food Solutions
LLC, a partnership which later saw the German coffee giant introduce retail coffee products at more than 180 Jewel-Osco supermarkets
Italy’s Illycaffè has also set its sights on the US market, appointing new North American leadership
in April 2021 to spearhead growth.
Later that year, Lavazza completed work on a new roasting facility
near Philadelphia to strengthen its US business.
Founded in 1862 in Vienna, Julius Meinl is one of the world’s oldest coffee roasters and has a presence in more than 70 countries.