Last updated on September 6th, 2012 at 11:25 am
J.M. Smucker Co. has paid $360 million for Miami-based Rowland Coffee Roasters, whose brands include Café Pilon, Café Bustelo, Café Oquendo, Medaglia d’Oro and El Pico brands.
According to the South Florida Business Journal, a news release said Rowland’s 2010 revenue of more than $110 million makes it the nation’s largest coffee company marketing to Hispanics.
The acquisition includes a manufacturing, distribution and office facility in Miami, but a release from J.M. Smucker indicates those operations will be closed.
J.M. Smucker plans to consolidate manufacturing into a plant it already has in New Orleans.
The architect of Rowland’s growth was Jose A. Souto, reports the Journal, who restarted the family’s coffee business in Miami after Fidel Castro came to power in Cuba. The company had roots going back to 1865 in the island nation.
Soto acquired Café Pilon in either 1967 or 1968, according to varying news accounts, from a family named Rowland. The company went on to acquire the Café Bustelo, Café Oquendo, Medaglia d’Oro and El Pico brands.
Now, the acquisition will boost the coffee operations of J.M. Smucker, which already markets the Folgers and Dunkin’ Donuts brands.
