Strauss Group, an Israel-based food and drinks manufacturer, is exploring an initial public offering of its coffee unit on the US stock exchange.
Strauss and TPG Capital Management, its partner in Strauss Coffee, have submitted a draft prospectus to the US Securities and Exchange Commission, reported Reuters.
Strauss is a leading firm in roast and ground coffee segments in Brazil and several European markets
TPG bought its stake in Strauss in 2008 for $293m.
In the fourth quarter, Strauss earned an adjusted ILS84m ($20.8m), up from ILS70m a year earlier. Sales grew 0.3% to ILS2.08bn and without including foreign exchange impact, sales increased 2.8%.
Coffee sales rose 2.4% to ILS1.03bn, which was driven by nearly 5% increase in overseas coffee sales.
