Advised on purchase of companyFood & Beverage
Acquired 100% of Business Operations
Miko, the Euronext Brussels listed specialist in coffee service and plastic packaging, acquires the coffee service company Kaffekompaniet in Sweden. This company, headquartered in Gothenburg, achieves a turnover of around EUR 6 million with its staff of 23.
Kaffekompaniet is a Swedish coffee service operator which, just like Miko, focuses on providing coffee service to the out-of-home market, such as in offices, the hospitality sector and institutions. Kaffekompaniet focuses in particular on the office market. It leases small and medium-sized vending machines to these customers. The company also provides technical service and supplies the ingredients such as coffee, sugar, milk, tea and hot chocolate. It achieves a turnover of around EUR 6 million with its staff of 23.
The company was set up in 1988 and quickly expanded to become established as an important benchmark in the office market in Gothenburg. At the moment, warehouses are being set up in both Stockholm and Malmö, the two other major cities in Sweden.
Frans Van Tilborg, CEO of the Miko Group, explains: “We have been involved for almost two years in a quest for a suitable takeover in the Scandinavian region. This is a region which continues to perform relatively well economically. However, the search process was not without its ups and downs. This is why we are very pleased that after two years we can successfully conclude this quest with the takeover of Kaffekompaniet.
This takeover fits in perfectly with our long-term strategy of building up separate coffee service organisations via our own subsidiaries in various countries. Sweden is now what we call a new ‘home market’. In Europe we have our ‘home markets’ in Belgium, the Netherlands, France, Germany, the UK, Poland, the Czech Republic, Slovakia and, as from today, Sweden.”
“We haven’t given it any thought yet whether we’ll also add Swedish ‘knäckebröd’ to our selection of cookies,” adds Frans Van Tilborg with a smile.
Miko has been active in coffee service for over 200 years and in plastic packaging for some 35 years now, and was floated on Euronext Brussels in 1998. Miko follows a “two-pillar strategy” in which its core activities – coffee service and plastic packaging – are practically independent entities each with its own management, so that each activity can follow its own growth path. The group employs 665 people and achieved a turnover of EUR 130.2 million in 2011. The coffee service division accounted for 50.4 % of this total. The remaining 49.6 % was provided by the plastic packaging division. It is an international group which owns companies in Belgium, France, the UK, the Netherlands, Germany, Poland, the Czech Republic, Slovakia and Australia.
IMAP advised the buyer throughout the acquisition process.