Kofola ČeskoSlovensko to acquire vending machine business
Czech drinks group Kofola ČeskoSlovensko is to purchase a 100% stake in Vending S.R.O., which manages ASO Vending, a Slovakian food and drink vending machines supplier.
The deal, inked on Tuesday (18 March), is subject to approval from Slovak competition authorities, the group said in a statement.
Financial terms of the agreement were not disclosed. The transaction is expected to close by the second quarter of 2025.
Based in Banská Bystrica, central Slovakia, Vending S.R.O. is a family-owned business, and "a leader" in the local vending market according to Kofola.
ASO Vending, which has been in operation since 1992, produces vending machines for food, coffee and other drinks, as well as "a full range of additional and personalised tailor-made solutions".
Kofola said the transaction would result in "logical synergies, not only in the soft drinks market".
In a statement, Daniel Buryš, CEO of Kofola ČeskoSlovensko, said the company was "still looking for ways to effectively strengthen our business and create conditions for the best possible availability of our products", and that it believed "vending to be a very promising sales channel".
He added: "We believe that thanks to Kofola's entry into the company, we will be able to find mutual synergies that will contribute to the further expansion of both companies. With the family business of the Korčeks, we share not only a philosophy, a sustainable approach to business, but also a focus on the coffee segment."
In 2024, ASO Vending achieved €18m ($19.5m) in turnover and EBITDA of more than €2m.
The business runs more than 8,000 vending machines in Slovakia. More than half of these sell coffee.
Commenting on the latest transaction, Miroslav Korček, founder and owner of ASO Vending said the move was "the next natural step in our operations", which would also allow it "to use a number of mutual synergies and bring opportunities for further growth".
"We are pleased to be joining a partner with the same family background, with a sympathetic the direction and tradition that the Kofola brand represents," he added.
This isn't Kofola's first purchase of a vending machine supplier. In January last year the group bought a 49% stake in Mixa Vending, which operates in Czechia and Slovakia.
The Ostrava-headquartered business has also recently branched into new drinks segments.
Late last year, the Jupi syrups producer announced plans to expand its range of soft drinks to include fruit juices and iced teas.
In 2023, the company entered beer with the acquisition of local brewer Pivovary CZ Group for an undisclosed sum. Kofola described the beer market at the time as a 'stable segment' with room for growth in export markets.
"Kofola ČeskoSlovensko to acquire vending machine business" was originally created and published by Just Drinks, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Sue Gray joins forces with Gary Neville
Sue Gray has joined forces with Gary Neville after being appointed chairman of a multinational advisory firm. The former chief of staff to Sir Keir Starmer has joined Consello UK, months after being forced out of No 10. Baroness Gray, who was given a place in the House of Lords in February, became a household name when she led the investigation into 'partygate'. Neville, the former Manchester United footballer, is chairman of Consello Strive UK, which is part of the Consello group of companies. The US-headquartered firm advises companies on growth and investment. Baroness Gray said she was 'delighted' to join the business. 'What Declan [Kelly, the chief executive] and his colleagues have accomplished in building the company to date is very impressive and I look forward to further supporting that growth in the UK and globally,' she said. Baroness Gray has made the move into the corporate world after leaving No 10 in October last year. She rose to fame as the head of the 'partygate' investigation, which laid bare the rule-breaking in No 10 during the Covid pandemic. She was appointed by Sir Keir as chief of staff in March 2023 when he was leader of the Opposition. The move was controversial because, months earlier, she had written an official report into the partygate allegations, which contributed to Boris Johnson's resignation as prime minister. Upon entering Downing Street, a power struggle broke out between Baroness Gray and other aides. In the role, she was paid a taxpayer-funded salary of £170,000 – meaning she was on £3,000 more than Sir Keir. She was ousted in October last year after losing out to Morgan McSweeney, a long-standing Labour insider who ran the party's general election campaign, who took her position. Downing Street announced she would become the Prime Minister's envoy for the nations and regions, but she did not take up the role. Friends said she had declined the position, but a No 10 source said Sir Keir was planning to rescind the offer because he was concerned about the media attention she would receive in the role. Declan Kelly, chief executive and chairman of Consello, said: 'Sue brings unparalleled insight from her decades of leadership in government service. 'Our entire team, as well as our clients, will benefit from her experience in countless ways and we are thrilled to welcome her to Consello.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
2 hours ago
- Yahoo
Sweetgreen adding 40 locations in 2025. Where it will add Michigan location next
Sweetgreen, a national chain known for its fast-casual "plant-forward menu," has added a Michigan restaurant among its locations that have opened in 2025, and another is on the way. The Los Angeles-headquartered chain offers salad and bowl food options, including caramelized garlic steak, wild rice and other combinations. Sweetgreen has opened eight new restaurants this year, including one in Rochester Hills, Michigan, in May, Chris Tarrant, the chain's chief development officer, said. A Shelby Township location is listed as coming soon on the company's website. By the end of the year, Sweetgreen will have opened at least 40 new locations, Tarrant said. Tarrant said the company plans to keep growing in 2026. 'We look forward to serving more communities as we expand our footprint with 15%-20% annual unit growth and offer different formats to meet our guests where they are,' he added. It is not clear if Michigan will get any additional Sweetgreen locations. The company lists 34 "coming soon" locations on its website. More: Plant-based restaurant Sweetgreen adding new healthy barbecue sauce There are currently five Sweetgreen locations in Michigan, according to the company's website, and one coming soon. The sites include: Ann Arbor Arbor Hills Birmingham Hall Road Shelby Township (coming soon) Rochester Hills Troy This article originally appeared on Detroit Free Press: Rochester Hills Sweetgreen open. Shelby Township site on way
Yahoo
4 hours ago
- Yahoo
400 jobs at risk as Alexander Dennis seeks to ‘consolidate' bus manufacturing
Bus maker Alexander Dennis has announced up to 400 jobs could be cut as it seeks to move all its UK manufacturing work to a single site in England. The Scottish-headquartered company said it is looking at 'consolidating its UK bus body manufacturing operations' in Scarborough, North Yorkshire. This would mean its manufacturing facility in Falkirk – which Alexander Dennis said had 'already been reduced in recent years' – would close. In addition the firm said the production lines in Larbert, where it also has its global HQ, would be suspended when current contracts are completed. The GMB Scotland union said the move was a 'hammer blow' for communities 'already reeling' from the closure of the nearby oil refinery at Grangemouth. Senior organiser Robert Deavy said: 'If the company is reviewing its future operations, it must do so with an open mind and a determination to save jobs, not shed them. 'We will do everything in our power to secure the future of Alexander Dennis in Falkirk, but so must the company and so must ministers.' Alexander Dennis said the changes would lower costs and increase efficiencies. But it added up to 400 jobs – about 22% of its workforce – would now be at potential risk of redundancy. Sharon Graham, general secretary of the Unite trade union said the end of manufacturing at Falkirk and Larbert was 'devastating'. She added: 'It is the latest huge economic blow to hit local communities on the back of the Grangemouth oil refinery closing.' Scottish Deputy First Minister Kate Forbes said: 'This will be a hugely worrying time for the workforce at Alexander Dennis, their families and the wider community.' She said the Scottish Government has in recent weeks 'engaged extensively' with the company and its parent firm NFI to 'understand the issues and ensure that every possible avenue is explored to mitigate the need for redundancies'. Ms Forbes and Scottish First Minister John Swinney have been involved in these talks, along with representatives from Scottish Enterprise, Transport Scotland and the UK Government. Ms Forbes pledged: 'The Scottish Government will continue to explore any and all options throughout the consultation period to allow the firm to retain their hard-working employees and manufacturing and production facilities at Falkirk and Larbert.' She added that in the event of job losses, the Scottish Government would provide support through its Partnership Action for Continuing Employment (Pace) initiative. Paul Davies, Alexander Dennis president and managing director, said the firm is proposing a UK manufacturing strategy 'to underpin financial sustainability and lower operating costs in the face of changing and challenging market dynamics'. With Alexander Dennis dating back to 1895, Mr Davies stressed bosses 'firmly believe in our people, products and business'. But he added: 'We must take significant action to drive efficiency to allow our operating model to be competitive. 'It is extremely regrettable that as part of this, we must place jobs at potential risk of redundancy and propose to cease manufacturing operations at some of our facilities.' Mr Davies said this is necessary because 'the stark reality is that current UK policy does not allow for the incentivisation or reward of local content, job retention and creation, nor does it encourage any domestic economic benefit'. He added: 'We have warned of the competitive imbalance for some time and would like to see policy and legislative changes that incentivise the delivery of local benefit where taxpayer money is invested. 'We strongly believe funding that supports public transport should lead to investment in local jobs, domestic supply chains, technology creation and a recurrent tax base. 'It is our hope that the forthcoming industrial strategy will provide reassurance that there is value in manufacturing within the borders of the UK and we remain hopeful of policy and legislative changes that increase the UK's focus on support for domestic manufacturing. 'Our new strategy would allow us to respond appropriately to increase local production if structural changes are made.' Scottish Secretary Ian Murray said part of the problem at Alexander Dennis was because SNP ministers had 'not ordered enough buses' from them. He said the Scottish Government had ordered 44 buses from the firm, contrasting this with the 200 buses ordered by Greater Manchester Mayor Andy Burnham. Mr Murray added the restructuring plans were a 'huge shock for the local area' but said the 45-day period that would now follow gave 'time to see if there is ways in which we can help'. Speaking for the UK Government, he added: 'We've been encouraging the Scottish Government to look at a furlough scheme for Alexander Dennis employees in order for us to be able to buy a little bit of time to work through some of the problems that the company have got.'
