London, July 25, 2022 – ofi, a global leader in naturally good food & beverage ingredients, is pleased to announce that the acquisition of Club Coffee L.P. (“Club Coffee”), previously announced on 26 April 2022, was successfully completed.

Club Coffee is one of Canada’s largest coffee roasters and packaging solutions providers to the ‘At Home’ segment, serving private label customers and retail brands from its facilities in Toronto. The acquisition of Club Coffee is aligned with ofi’s
growth strategy to deliver sustainable, natural, value-added food and beverage ingredients and solutions through a diverse channel mix, to customers across the globe. The private label and co-manufactured channel is an attractive, high value
and growing part of ofi’s portfolio.

I am delighted to welcome Club Coffee into ofi. Bringing together our respective expertise in sustainable sourcing and innovative packaging we are well-positioned to meet the increasing consumer demand in these areas, we expect to bring these benefits to our customers through this exciting combination.

Vivek Verma, Managing Director & CEO, ofi

ofi acquired Club Coffee at an enterprise value of CA$ 150 million, subject to post-closing adjustments. Excluding acquisition-related costs and charges, the acquisition is expected to be accretive to current year earnings.

About Club Coffee L.P.
Since 1906, Club Coffee L.P. has built a reputation for quality and sustainable innovation, and the company is now the leader in plant-based, compostable single-serve coffee pods. Club Coffee is a trusted brand steward, creating beverage solutions for mainstream and premium brands and everything in between. One of the largest coffee roasters in North America with the scale to serve brands, Club Coffee is a key coffee partner for not only top-selling North American brands but also many of Canada’s leading retailers. The company drives industry-leading, single-serve beverage innovation and is a long-term partner of choice for major foodservice customers. It is Two Global Food Safety Initiative (GFSI) certified, with state-of-the-art production facilities. The company has a selection of beverage types, including coffee, tea, hot chocolate, cappuccinos and lattes in packaging formats to meet customers’ needs.

For more information, visit Club Coffee’s website.

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