Strauss: TPG Capital to sell Strauss Coffee stake

TPG acquired 25% of Strauss Coffee in 2008 for $293 million.

Strauss Group Ltd. (TASE:STRS) today announced that TPG Capital was considering options to sell its minority stake in Strauss Coffee. TPG acquired the stake nearly five years ago, and Strauss said that this was the "regular practice of investment funds." It added that it was conducting the review of TPG's exit options together with the investment fund.

Strauss added that it "continues to regard Strauss Coffee as a major part of its activity, and will continue to support Strauss Coffee's development and growth."

TPG Capital acquired 25.1% of Strauss Coffee for $293 million in September 2008, reflecting a company value of $1.16 billion for the business. TPG had an option to acquire an additional 10% of Strauss Coffee for €106 million, but never exercised it.

Published by Globes [online], Israel business news - - on July 4, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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