The Strauss Group, the food maker and TPG Capital, the private equity firm, had undertaken reviews fo their options as to the possible sale of the 25% shareholdings of TPG in Strauss Coffee. Strauss Coffee is an Israeli coffee maker.
According to Strauss, TPG has been the holders of the shares for the past five years and the divestment was considered as a 'natural process' for business purposes of private equity firms. Back in 2008, TPG paid out US$293 million for the stake.
In a statement, Strauss said, "At this stage, no decision has been reached regarding exit alternatives for TPG and Strauss Group together with TPG are examining a number of options."
Strauss, aside from coffee, also manufactures snacks and other fresh food. It is considered as the market leader in roast and ground coffee in markets located in Central and Eastern Europe.
Global coffee sales have declined by 5.6% in the first quarter of 2013.
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