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MarketScreener Homepage  >  Equities  >  Nyse  >  Coty Inc.    COTY

COTY INC.

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JAB sees acquisition opportunities in non-alcoholic beverages - Manager Magazin

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09/20/2018 | 09:04am EST

BERLIN/ZURICH (Reuters) - Privately owned investment firm JAB Holding Co, best known for stirring up the coffee industry with a string of deals, sees huge opportunities for acquisitions in the market for non-alcoholic beverages, one of its senior partners said in an interview with Germany's Manager Magazin published on Thursday.

Asked about JAB's move this year to merge its Keurig Green Mountain coffee business with soda maker Dr Pepper Snapple Group, Peter Harf said: "If we stuck to traditional coffee products, we'd have a growth problem at some point."

He said further acquisitions would be the logical next step. "The global market for non-alcoholic beverages has a volume of $1.3 trillion. There are huge opportunities there."

Harf said the German billionaire Reimann family that invests its fortune via JAB had set clear rules to limit investments to fast-moving consumer goods and exclude banks, insurance companies, alcohol, tobacco and also luxury goods, an area the holding recently exited with the sale of Bally.

It was also essential for the Reimann family that JAB keep an investment grade credit rating, Harf said.

JAB has built a coffee empire over the past five years, trailing market leader Nestle, with packaged brands like Douwe Egberts, coffee house chains like Balzac Coffee, and Keurig, the leading single-serve brewer system in the United States. It also has stakes in cosmetics firm Coty Inc and household and healthcare group Reckitt Benckiser.

Asked whether JAB would also have been interested in taking over Starbucks' retail and food service business Nestle acquired earlier this year, Harf said: "Not really. If anything, we would have tried to buy the whole company, including the store network. But Starbucks is worth up to $80 billion. That is still a bit too big for us."

(Reporting by Silke Koltrowitz, additional reporting by Tassilo Hummel in Berlin; Editing by Michael Shields)

Stocks mentioned in the article
ChangeLast1st jan.
COTY INC. -5.06% 11.08 Delayed Quote.68.90%
NESTLÉ S.A. -0.14% 102.94 Delayed Quote.29.17%
RECKITT BENCKISER GROUP PLC 0.13% 6037 Delayed Quote.0.40%
STARBUCKS CORPORATION 0.52% 88.67 Delayed Quote.37.69%
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Financials (USD)
Sales 2020 8 196 M
EBIT 2020 1 011 M
Net income 2020 290 M
Debt 2020 7 230 M
Yield 2020 4,10%
P/E ratio 2020 29,3x
P/E ratio 2021 34,9x
EV / Sales2020 1,91x
EV / Sales2021 1,89x
Capitalization 8 397 M
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Mean consensus HOLD
Number of Analysts 15
Average target price 12,39  $
Last Close Price 11,08  $
Spread / Highest target 35,4%
Spread / Average Target 11,8%
Spread / Lowest Target -18,8%
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Managers
NameTitle
Pierre Laubies Chief Executive Officer & Director
Peter Harf Chairman
Gianni Pieraccioni Chief Operating Officer-Consumer Beauty
Pierre-André Terisse Chief Financial Officer
Daniel Ramos Chief Scientific Officer
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