Lavazza Profit Soars After Sale Of Keurig Green Mountain Stake

Lavazza saw a soaring net profit in 2015 thanks to the sale of a stake in Keurig Green Mountain, according to Reuters. The Italian coffee maker noted that its net profit grew to 802 million euros ($898 million) last year, up from 127 million euros in 2014.

Reuters reports that Lavazza used part of the cash from the stake sale to fund its acquisitions of Merrild and Carte Noire, which it purchased earlier this year.

Lavazza predicts revenues to reach 1.7 billion euros this year, up from 1.5 billion euros the year prior.