Lavazza assumes complete control of French company Esp

Lavazza has finalised the acquisition of 74% of the share capital of the French company ESP (Espresso Service Proximité) of which it already held 26%, thereby assuming complete control of the company.

ESP, set up in 2009 by Lavazza as a joint venture with the Deotto Finance fund and with IVS, a specialist in automatic catering, is responsible for distributing the Turin-based company’s office coffee machines.

The operation confirms Lavazza’s interest in the French market following the 2016 acquisition of Carte Noire from the Jacobs Douwe Egberts group for €700 million.

Lavazza closed 2016 with an all-time record revenue of €1.9 billion (+29%) and an operating profit of €61.7 million, up by 34%. Exports accounted for 60.3% of turnover (52.8% in 2015).