Mondelez International Inc., the world’s second-biggest coffee maker, will expand into the Netherlands and Australia and bring its Nespresso-compatible capsules into Spain this month in an attempt to capture more of the global $80 billion coffee market.
D.E Master Blenders 1753 NV, the coffee company being acquired by investment firm Joh. A. Benckiser, will appoint former Mars Inc. executive Pierre Laubies as chief executive officer once the deal is approved by shareholders, according to a person familiar with the matter.
D.E Master Blenders 1753 NV, the coffee and tea company spun off by Sara Lee Corp. in June, said it became aware of accounting irregularities at its Brazilian operations after gaining independence and isn’t responsible for any losses incurred by investors.
European stocks climbed, completing their third consecutive quarterly gain, as a report showed retail sales unexpectedly increased in Germany last month and Cypriot banks opened for the first time in almost two weeks.
Joh. A. Benckiser is close to announcing a formal offer to buy D.E Master Blenders 1753 NV, the coffee and tea company spun off by Sara Lee Corp., in a bid that may value the company at 7.6 billion euros ($10 billion), people familiar with the matter said.
When the Supreme Court hears a case today weighing what remedy there should be after a federal judge was involved in a plea agreement, an Orrick Herrington & Sutcliffe LLP associate with 2 1/2 years at the firm will be making the arguments for the defendant.
Joh. A. Benckiser plans to finance its acquisition of D.E Master Blenders 1753 NV with about 3.3 billion euros ($4.3 billion) of debt facilities, according to four people with knowledge of the transaction.