Finlays to Grow Extracts Business in the US by Acquiring Autocrat, LLC
Lincoln, RI and London, UK – April, 28 2014 – James Finlay Limited today announced that they have bought, through their wholly owned subsidiary James Finlay International Inc., 100% of the share capital of Autocrat, LLC for an undisclosed sum.
Finlays operates in all parts of the tea supply chain and brings ‘bush to cup’ tea knowledge in leaf tea procurement, product development and innovation. It is also the leading private label packer of roast and ground coffee in the UK.
Autocrat is a leader in coffee extracts and offers customer focused market solutions using the highest quality natural ingredients. They are a supplier of coffee extracts used to flavor products for some of the foremost companies in the food, beverage, and dairy industries.
"This acquisition demonstrates our willingness to invest in businesses that can help fuel profitable growth and broaden our existing tea extracts business in North America. Finlays is already a major player in the UK Roast and Ground coffee market and there are some obvious synergies between tea and coffee extracts around customers and product development," said Ron Mathison, Finlays Group Managing Director. "The US Market is an exciting area for Finlays and we are looking forward to putting more emphasis on our operations here. The acquisition will double the size of our business in the US, giving us greater scale and access to new channels. Entering the coffee extracts market is a natural extension for our own tea extracts business providing excellent opportunities for growth."
Both companies are well respected as experts in their field, and have been operating independently for over 100 years. The combination is well-poised to assist customers in bringing unique, high quality, customized food and beverage ingredient product solutions to market.
Finlays is a multinational agribusiness active in a number of inter-related market sectors, with a core focus on tea and horticulture. Founded in 1750 James Finlay became a wholly-owned subsidiary of John Swire & Sons in 2000. The Company has extensive tea and horticultural interests in Kenya, South Africa, Sri Lanka and China complemented by global trading, packaging and extraction activities.
Finlays’ Estates in Kenya and Sri Lanka total more than 11,000 hectares of land dedicated to tea growing producing 40 million kilos of black tea annually. Finlays are one of the only tea companies in the world to be involved in every aspect of the process of growing, trading, blending, extracting, packaging and distributing tea. Finlays is also one of the largest suppliers of Fair Trade tea and coffee in the world.
Finlays’ tea trading interests account for more than 70 million kilos of tea a year while the Company is the world’s largest supplier of high quality tea extracts including instant teas and aromas, dealing with all the world’s top beverages companies. The Company also has businesses in the UK and Sri Lanka sourcing, blending and packaging private label tea (and in the UK coffee) for customers in the UK, the Middle East and Japan.
Tea and coffee facts
Produces 40million kg per annum from 11,000 hectares of land dedicated to tea growing in Kenya and Sri Lanka.
Trades over 70 million kg from offices in the UK, Kenya, Sri Lanka, UAE, Malawi, Vietnam, Indonesia, China and the USA; blends over 9 million kg per annum.
Manufactures and trades over 8 million kg of extracts per annum. Trades over 3 million kg of decaffeinated tea.
One of the largest independent tea traders and leading suppliers of Fair Trade and Rainforest Alliance tea in the world.
Blends and packs 4 million kg of coffee per annum