NKG says the acquisition, which includes Nordic Approach’s sourcing division, Tropiq, will enable it to grow in Europe, the Middle East and Asia
Left to right: Morten Wennersgaard, David M. Neumann and Andreas Hertzberg | Photo credit: Neumann Kaffee Gruppe
Neumann Kaffee Gruppe (NKG) has acquired a majority share in Oslo-based green coffee trader Nordic Approach, including its sourcing division, Tropiq.
Hamburg-based NKG, one of the world’s largest green coffee service groups, said the acquisition creates a ‘dominant force in the specialty coffee market’ and strengthens its business in Scandinavia and the wider European market.
“With the acquisition of the majority of shares in Nordic Approach and Tropiq, we are confident that we now are in an ideal position to expand our specialty business not just in Scandinavia, but across Europe, Asia and the Middle East. At the same time, we will become better business partners for producers and sellers of the highest quality coffees and to offer a full range of green coffee and coffee related services to the high-quality focused Scandinavian market,” said David M. Neumann, Group CEO, NKG.
Founded in 2011, Nordic Approach will maintain operational autonomy and continue to be led by Managing Directors Morten Wennersgaard and Andreas Hertzberg, who remain minority shareholders.
Day-to-day operations, decision-making processes and the strategic direction of the company will also remain under Nordic Approach’s control.
In 2017, Nordic Approach’s sourcing department became a spin-off – Tropiq – which sources and trades green specialty coffees at scale from Ethiopia and Colombia.
Nordic Approach said its new partnership with NKG ‘opens doors to new possibilities, collaborations and resources’ and that NKG’s extensive network and expertise will ‘redefine the way specialty green coffee is imported, traded, and distributed’.
“Nordic Approach, Tropiq and NKG are aligned in the focus on sustainability and supporting coffee growing communities at scale. As part of the NKG network, we will continue our journey of growth while upholding the values and practices that have made us successful. We’re extremely motivated to extend our product range, increase presence in existing markets and expand our specialty coffee business worldwide, thanks to Nordic’s and NKG's joint vision and expertise,” Wennersgaard and Hertzberg said in a joint statement.
NKG is a global green coffee service group, operating more than 50 companies across 26 countries.