Strauss Group Ltd. (STRS) said its coffee
unit has signed a five-year agreement with Viva Coffee GmbH to
operate the German coffee manufacturer, according to a statement
filed today with the Tel Aviv Stock Exchange.

Strauss can extend the agreement for an additional three
years and has an option to buy the company for 53 million euros,
it added in the statement.

The shares rose 0.8 percent to 46.97 shekels at the 4:30
pm close in Tel Aviv, the highest close since Jan. 2.

Strauss also said the German company received a 28.6
million-euro loan from local banks and estimated that it will
need to invest another $3.5 million in Viva’s factory.

To contact the reporter on this story:
Sharon Wrobel in Tel Aviv at
swrobel4@bloomberg.net

To contact the editor responsible for this story:
Claudia Maedler at
cmaedler@bloomberg.net