Germany's Reimann family, among Germany's richest, plans more worldwide coffee investments following its major coffee retail expansion agreed in the United States in May, an advance release from a German magazine said on Thursday. On May 7, the Reimann's company D.E Master Blenders 1753 and U.S. group Mondelez International Inc said they were merging their retail coffee product businesses to create a company with annual sales of about $7 billion aimed at taking on market leader Nestle SA.Peter Harf, a Reimann advisor, plans to create a global coffee empire for the family, he said in an interview with the weekly Manager magazine for publication on Friday.Harf said his goal is to create the "global number two or even number one" coffee company.The merger will combines Mondelez's retail coffee brands such as Carte Noire and Gevalia with D.E Master Blenders' brands Douwe Egberts, L'OR, Pilao and Senseo. The new company will be a joint venture controlled by D.E Master Blenders' parent JAB Holding Co.
Mondelez International, Inc. (Mondelez International) is a snack manufacturing company. Shares of MDLZ traded higher by 0.56% or $0.21/share to $37.63. In the past year, the shares have traded as low as $28.22 and as high as $38.47. On average, 9236650 shares of MDLZ exchange hands on a given day and today's volume is recorded at 4766479.
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