INTERNATIONAL 23rd August 2010

Turin-based roaster Luigi Lavazza in mid-August announced that it was taking a $250m (€197m) stake in American speciality sector roaster Green Mountain Coffee Roasters, a Bloomberg report said.

The Italian coffee market leader's stake amounts to about 7% of the Waterbury, Vermont-based roaster, the report added.

The two companies agreed to collaborate in developing single-serve espresso machines and capsules, and Green Mountain may also sell Lavazza's existing machines through its markets in the US and Canada, the report added.