N&W Global Makes Strategic Minority Investment In Saeco Vending

Posted On: 10/25/2016

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TAGS: N&W Global Vending, Saeco Vending SpA, N&W's Saeco acquisition, vending machine manufacturers, coffee vending, LSF9 Canto Midco DAC, Lone Star Funds, superautomatic espresso machine, European vending machine factories

VALBREMBO, Italy -- N&W Global Vending reports that it has signed an agreement with Saeco Vending SpA (Gaggio Montano, Italy) under which N&W will make a strategic minority investment in Saeco's share capital.

The remainder of that share capital will be acquired by N&W parent company LSF9 Canto Midco DAC (Dublin, Ireland), an affiliate of Lone Star Funds. Dallas-based LSF acquired N&W Global Vending earlier this year. | SEE STORY

Saeco International Group SpA was founded in 1981 and unveiled the first "superautomatic" espresso machine for the home market in 1985. It has played a leading role in popularizing countertop and freestanding espresso vending machines internationally. In 2009, it was acquired by the Netherlands' Philips.

N&W Global Vending SpA is one of the world's largest manufacturers of full-line vending machines. It was formed in 2000 by the integration of Danish vending pioneer Wittenborg, which began manufacturing vending equipment in 1924, and Necta, which had been formed by Italy's Zanussi Group in 1968 as a vending machine manufacturer. Zanussi was acquired by Electrolux in 1984.

N&W's acquisition of Saeco is expected to be completed in the first half of 2017.