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Lavassa plans to continue investment in coffee business in India after Carnation hospitality acquired the Turin based company's stake in Barista Coffee chain for Rs 100 crore.
The decision to move out of Barista has been taken accordingly with the global business guidelines of the Group to no longer manage directly the coffee shop business. Instead, they will continue to provide Lavazza Coffee to Barista coffee chain thanks to a long-term supply agreement, in connection with a license agreement of the Lavazza trademark, Antonio Baravalle, CEO of Lavazza.
The company says it will continue to develop and invest in its Sri City plant which is the only production facility outside of Italy. Lavazza has been looking to sell its stake in loss making Barista coffee chains for almost about a year now.
