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Italian investment firm QuattroR has completed its 50% acquisition of privately owned Italian multinational coffee giant Massimo Zanetti Beverage Group S.p.A. (MZB)
With the acquisition, the group’s board named longtime food and beverage executive Pierluigi Tosato CEO. He replaces Massimo Zanetti Beverage Group Founder and former principal owner Massimo Zanetti in the position.
Zanetti, a former politician and entrepreneur who has been referred to in Italian media as “The King of Coffee,” created MZB following his acquisition of the Segafredo coffee company in Bologna in the 1970s.
Segafredo Zanetti continues to be a leading coffee brand for MZB, which now has a commercial presence in 110 countries and reported revenue of approximately US$1.2 billion in 2023. With business divisions on multiple continents, including Massimo Zanetti Beverage USA in North America, MZB Group sub-brands include Hills Bros., Chock Full O’Nuts and Kauai Coffee.
Massimo Zanetti. “Massimo Zanetti” by Nicopizzi is licensed under CC BY-SA 4.0.
“The partnership with QuattroR represents an opportunity and a stimulus for us, to further consolidate the Group’s growth path, maximizing the creation of value,” Zanetti, who at 76 years old remains chairman of MZB Group, said in an announcement of the acquisition. “Sharing our entrepreneurial values and the integration of our respective skills will facilitate the achievement of the Group’s objectives.”
News of the acquisition first came through a report last December from Italian daily Corriere del Veneto. Through an interview with Zanetti, the publication reported that QuattroR was injecting €90 million into MZB Group while negotiating with creditors — including Unicredit, BNL, and Intesa Sanpaolo — to purchase outstanding debt. In return, the investment firm would receive voting rights in addition to its 50% stake.
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