Mondelez International Inc and D.E Master Blenders 1753 are considering options including a possible sale of French coffee brands L'Or and Grand Mere as they prepare to merge their coffee businesses, sources familiar with the matter said. The companies said in May they would form a joint venture, controlled by D.E Master Blenders' private parent JAB Holding Co., which would be the world's No. 2 player behind Nestle .The companies have hired Lazard to advise on strategic options for the two French brands, according to three sources familiar with the matter. The options could include, but are not limited to, a sale, they said.It was not immediately clear how big the brands are or why they may be sold. L'Or, which makes capsules compatible with Nestle's Nespresso system, is currently owned by D.E Master Blenders. Grand Mere, first introduced in 1950, is owned by Mondelez. It is known for its smiling grandmother icon.JAB, the investment arm of Germany's billionaire Reimann family, and Mondelez declined to comment. Lazard could not immediately be reached. The sources declined to be identified as the matter is private.
Mondelez International, Inc. (Mondelez International) is a snack manufacturing company. Shares of MDLZ traded higher by 1.29% or $0.49/share to $38.48. In the past year, the shares have traded as low as $30.05 and as high as $39.54. On average, 7443040 shares of MDLZ exchange hands on a given day and today's volume is recorded at 6069608.
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