Chennai-based Sterling Infotech is said to have signed a deal with the largest Italian coffee company, Lavazza, to sell 100 per cent stakes in its Barista Coffee Company. Sterling Infotech group is owned by NRI tycoon C Sivasankaran. Lavazza and Sterling Infotech have been in talks with each other from past few months.
Lavazza, the $1.2 billion company, is also going to buy Sterling Infotech’s vending machine business, Fresh & Honest. The total value of the deal is likely to be approximately $125 million. No official confirmation has been made by the company yet.