Italy's Lavazza Boosts U.S. Investment to Spur Coffee Expansion
- Coffeemaker plans to triple U.S. revenue to $300 million
- Lavazza seeks strategic partnerships as it excludes an IPO
Luigi Lavazza SpA vice chairman Giuseppe Lavazza. Photographer: Antonio Calanni/AP Photo
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Luigi Lavazza SpA will direct more than a third of its investment budget toward the U.S. this year as Italy’s biggest coffeemaker seeks to triple revenue in a country that accounts for less than 10 percent of sales.
Closely held Lavazza, a coffee provider for Keurig Green Mountain Inc.’s K-Cup system, is targeting "tens of millions of dollars" at U.S. distribution and marketing in 2015, according to Vice Chairman Giuseppe Lavazza. That’s out of total spending of about $30 million.