Vending

KKR expected to inject funds into Selecta in face of COVID-19 losses

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May 29, 2020

KKR, a buyout group, is preparing to invest in Swiss vending machine company Selecta, which faces a loss of business due to the coronavirus crisis, four sources close to the matter said, according to a Reuters report.

Selecta operates self-service coffee and convenience food dispensers at private businesses, train stations and hospitals. 

KKR, which took a controlling stake in Selecta in 201,5 is expected to present a plan to provide 150-200 million euros ($166.556-$222.074 million) in new loans to the debt laden company, one of the sources said.

KKR and Selecta declined to comment.

KKR is working with PJT Partners, an investment bank while Selecta's bondholders have hired Perella Weinberg, the sources said. The investment banks declined to comment.

For an update on how the coronavirus pandemic is affecting convenience services, click here.