Italy’s N&W Global Vending and Canada’s Les Entreprises Cafection have announced plans to jointly manufacture and sell premium coffee machines in North America.
The two partners will also develop Cafection machine sales in other countries.
As part of the agreement, N&W and Cafection owner François Baron will create a joint venture that will acquire 100% of Cafection and include access to N&W’s capabilities. N&W will own a 67% stake in the JV, while Baron will retain a 33% stake in the JV and become CEO.
Joint Venture
The joint venture, whose arrangements should be completed during July, will continue to use the Cafection brand and will be based in Quebec City.
Based in Valbrembo near Bergamo, N&W is a leading European manufacturer of coffee, other hot and cold beverages and food vending machines with a particular focus on espresso coffee. The company sells its products in over 100 countries and has eight manufacturing sites.
Cafection, meanwhile, is the leading manufacturer of bean-to-cup coffee machines for the office coffee service market in North America. It distributes machines to over 80% of the Fortune 500 companies, including Google, Facebook, Apple and Microsoft.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
