Commodities
Swiss Trader Sucafina to Buy Mercon Assets in Top Robusta Producer Vietnam
- Sale comes after Mercon filed for bankruptcy in December
- Vietnam is key market as world faces shortage of robusta beans
The deal comes at a time when the robusta market has heated up, with futures traded in London rising as much as 50% this year.
Photographer: Linh Pham/BloombergThis article is for subscribers only.
Swiss coffee trader Sucafina SA will purchase Mercon Coffee Corp.’s unit in Vietnam, expanding its reach in the world’s top producer of robusta beans used to make instant coffee.
The sale of Mercafe Vietnam Ltd. comes after the Dutch trader filed for Chapter 11 bankruptcy in New York late last year, citing steep price swings and higher borrowing costs that eroded the firm’s ability to pay its debt on time in full. The acquisition is being carried out by Sucafina’s local subsidiary, according to court filings.