Northern Irish snack business Tayto Group has announced the acquisition of a UK-based vending solutions firm, Freedom Refreshments, and its subsidiaries LTT Vending, eXpresso PLUS and NIVO.
The move is the first investment that the snack firm, through its affiliate company, the Montagu Group, has made into the vending sector, and the Tandagree, Co. Armagh-based company said it forms a 'key facet' of its strategic development programme.
“While we have a strong share of the vending market in Northern Ireland, we only had limited reach into GB and this deal will enable us to increase our presence significantly within this sector," Paul Allen, chief executive of the Montagu Group said.
“The people at Freedom are experts at what they do, continually developing their brand and subsidiaries through both organic growth and acquisitions.”
Sister Company
The Montagu Group is a sister company to Tayto, which has been established to operate and direct the vending arm of the business, the company said. Freedom Refreshments, which has a presence in retail, healthcare, workplace and educational facilities, is believed to turn over around £16 million per annum.
“The vending machines will carry Tayto Group products, where appropriate, but their contents will be driven by consumer demand and will also include an extensive range of hot and cold drinks as well as confectionery," said Allen.
Tayto's portfolio includes brands such as Tayto Crisps, Golden Wonder, Real Crisps, Mr Porky and Jonathan Crisps.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine
