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ERB-group to take over Volkart's worldwide coffee operations.

ERB-Group to take over Volkart's worldwide coffee operations

The Erb-Group has reached an agreement with Volkart, the Winterthur trading house, to take over its worldwide coffee trading activities, including foreign subsidiaries, effective May 1, 1989.

These trading activities and subsidiaries are now consolidated under the umbrella of Unifina Holding Ltd. (formerly Volkart Brothers Holding Ltd.). Unifina Holding Ltd. is wholly owned by the Erb-Group. Whereas in Volcafe Ltd. (formerly Volkart Brothers Ltd.), the Winterthur coffee trading house, the management, headed by Paul Moeller, will hold an equity interest of up to 20 percent.

The Erb-Group is engaged in the import and distribution of automobiles, financial services, real estate development and investment, as well as in manufacturing and marketing of construction-related products and building materials. In 1988, the Erb-Group reached total revenues of sfr. 1.762 million. By acquiring one of the world's largest coffee trading house, (1988 revenues: 6.5 million bags of coffee of approx. sfr. 1.700 million), the Erb-Group will achieve greater diversification and this time on an international scale.

As a result of this acquisition, the Erb-Group also plans to reorganize its financial services and real estate divisions. In addition to Volcafe Ltd the following Erb-Group companies will be consolidated under Unifina Holding Ltd.: Hugo Erb AG, Steig Garagen AG, Schlosshof Immobilien AG, Rothen Immobilien AG, Talbach AG, Roland Karrer AG, Erb Finanz-und Leasing AG and EBC (Schweiz) AG.

The trading house Volkart, which was founded in Winterthur in 1851, wants to be known that it preferred to sell its coffee operations to a local Winterthur firm, which agreed to a management equity participation rather than a group of entirely new investors. In addition, the change of ownership will not affect the Volcafe-Group personnel.

Effective May 1, 1989, all cotton finance and service firms in the Volkart-Group are consolidated under the new Volkart Brothers Holding Ltd., Winterthur (formerly Inpaco AG) which is owned by the Reinhart family.
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Publication:Tea & Coffee Trade Journal
Date:Jun 1, 1989
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