Tuesday, October 17, 2017 | Today's Vending Industry News
European Vending Giant Selecta Group To Acquire Italy's Gruppo Argenta

Posted On: 10/2/2017

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CHAM, Switzerland -- Selecta Group B.V. said an entity controlled by KKR, its majority shareholder, has entered into an agreement to acquire Gruppo Argenta S.p.A., a leading vending and coffee service provider in Italy, from Motion Equity Partners.

Under the agreement, Selecta has the right to acquire Milan-based Argenta directly from the seller in place of KKR, or after the completion of the acquisition.

Selecta, founded in 1957, reportedly operates more than 132,000 vending machines in 16 countries and serves more than six million consumers daily. The addition of Argenta's operations marks Selecta's entry into Italy.

Argenta is widely recognized as a leader in coffee service and vending innovations including micromarkets, cashless payment technologies and healthy on-the-go food offerings.

"We are excited to announce the acquisition of Argenta which clearly marks another important milestone in our objective to strengthen our position as the leading self-serve retailer in Europe providing great quality coffee brands and convenient food and beverage concepts," said Selecta executive chairman David Hamill. "It is a perfect fit with our strategic focus on geographical reach, operational excellence, growth and innovation."

In March, Selecta acquired Pelican Rouge Group B.V., another leading operator, based in Dordrecht, Netherlands. Pelican Rouge, active in eight European countries, had more than 150,000 clients at the time of the acquisition and owned and operated a roasting facility.

"The acquisition gives our companies a unique platform and will allow us to benefit and learn from Argenta's best-in-class Italian operations on a European level," said Selecta chief executive David Flochel. "With our majority shareholder KKR, we have a strong investor by our side who supports us in growing and developing our business in Europe."

Argenta chief executive Stefano Fanti added: "As part of Selecta, Argenta will have access to financial and operational resources that are second to none in the European coffee service and vending market. Together, we will tackle digital opportunities, such as cashless payment and data analytics."

The combined companies would have pro forma revenues of more than $1.77 billion and pro forma EBITDA of $283 million, excluding expected synergies in excess of $53.2 million from Selecta's integration of Pelican Rouge B.V.

The acquisition is expected to close in the first quarter of 2018.