Just weeks after announcing the completion of a drilling program at its Vereda Salsipuedes in Guaduas asset with promising results and news that it would continue to grow its coal footprint in South America, the company opted to go very off-the-map for its latest business venture to acquire coffeemaker Cafe Tolima Don Diego.
Officials announced the company signed a letter of intent with the company to distribute US Department of Agriculture-certified organic coffee in Colombia, North America, Europe and China.
“This acquisition is in line with the company's corporate objective of taking advantage of resource opportunities in the Republic of Colombia,” NCR said.
Cafe Tolima Don Diego is negotiating with US and Colombian outlets including supermarket chains, airlines and wholesale clubs for the deal, and NCR will soon have a Colombian sales office to handle domestic and international sales.
The coffeemaker, which has already established a retail cost scenario for its plan, will work closely with Andres Castro of Guia de Cafe in Bogota.
Whether considered to be bizarre or genius, the producer said that it wanted to take advantage of the organic import that had the most value to North America.
“New Colombia Resources aims to deliver the best organic and traditional coffee to the domestic market as well as the export market since many in Colombia feel they are cheated out of good coffee,” the company said, and president John Campo said the time was ideal to enter into the caffeine-fueled business.
“[T]he price on the shelf for organic coffee doesn't reflect the low futures prices,” he said.
“In reference to coking coal, I feel the recent upgrade of met coal stocks is very encouraging since we expect to begin selling coal in the coming months after prices have recovered.”