Sucafina acquires Mercon's Vietnam subsidiary! Set to boost Vietnam coffee influence

Source:Best Coffee > News Author:qjroot Published:2024-06-07 19:05:18

In December last year, according to a Reuters report, Mercon Coffee Group, one of the world’s largest coffee traders, filed for Chapter 11 bankruptcy protection in New York due to experiencing an “extremely challenging operating environment” in coffee trading.

It is understood that Mercon operated in all major producing regions, including Brazil, Vietnam, and Central America, but in recent years faced issues such as logistics disruptions during the pandemic, frost and drought in Brazil, price fluctuations, and rising currency interest rates, which damaged the company’s financial condition and ultimately led to bankruptcy.

The headquarters of Mercon is located in the Netherlands, while Mercon Vietnam was established in 1998, specializing in the processing and export of Vietnamese green coffee beans, and serves as Mercon’s trading headquarters in Asia.

Moreover, Sucafina and Mercafe have adjacent factories in Vietnam, both located in Lam Dong Province in the Central Highlands. Once the acquisition is completed, it could further expand Sucafina’s coffee business in Vietnam.

In recent years, Sucafina has been expanding its business by acquiring the U.S. coffee importer Sustainable Harvest and purchasing a majority stake in CompleteCoffee Ltd., a UK-based merchant known for supplying Costa Coffee. It has also opened offices in China, India, Indonesia, and New Zealand.

Sucafina acquires Mercon's Vietnam subsidiary! Set to boost Vietnam coffee influence

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