Japanese beverage giant buys Kiwi coffee business Allpress
7 May, 2021 05:33 AM
4 minutes to read
Allpress supplies more than 1500 tonnes of coffee beans to cafes and restaurants each year. Photo / Allpress
Allpress supplies more than 1500 tonnes of coffee beans to cafes and restaurants each year. Photo / Allpress
Kiwi coffee business Allpress Espresso is said to have sold for upwards of $50 million. The mainly wholesale business, which also operates cafes and roasteries in five markets, has been sold to Japanese beverage giant Asahi Breweries.
The local arm of the company would not disclose how much the business had changed hands for, and founder Michael Allpress said he was bound by NDA to keep the amount secret. The transaction is expected to be completed in May.