US consumer products group Sara Lee Corporation announced today that the company's subsidiary headquartered in The Netherlands has signed an agreement for the acquisition of the Polish coffee business, Prima S.A. The final transaction is expected to be completed in December 2001. The terms of the agreement were not disclosed. "This acquisition reinforces Sara Lee's coffee position in the Central European region, where it already holds leading positions in Hungary and the Czech Republic," said C. Steven McMillan, chairman, president and chief executive officer of Sara Lee Corporation in a statement this week. "With the addition of Prima S.A., we now have a very strong distribution network that will help drive our growth in Central Europe," he continued. Sara Lee is currently the second-largest retail and foodservice coffee roaster in Europe. The company markets Douwe Egberts, Maison du Cafe and Marcilla in Europe; and, Uniao, Caboclo and Cafe do Ponto in Brazil. Prima is one of the largest coffee producers in Poland, with an 18 per cent share of the Polish retail market. Prima Niebieska, the company's best selling coffee variety, holds a number one position in the Polish retail coffee market, with a 15.5 per cent market share. Prima is a subsidiary of Drie Mollen Holding B.V., a leading company in the private label and foodservice coffee businesses. Net sales of Prima were approximately $45 million(49.1 milllion euros), for the company's fiscal year ended December 31, 2000.
