Selecta Group B.V. (Selecta), a leading European vending and coffee services provider, and Pelican Rouge Group B.V. (Pelican Rouge), a long established coffee services and vending company, today announced that they have signed an agreement to combine their operating businesses.
Under the agreement Selecta will purchase Pelican Rouge creating a leading vending operator and coffee services provider for the workplace, on-the-go as well as hotels, restaurants and cafes (HoReCa) across Europe, with presence in 15 countries.
The combined company will have pro forma revenues of over €1.3Bn and pro forma EBITDA in excess of €200 million.
The transaction is subject to customary closing conditions, including regulatory and other approvals. Closing is expected to take place by the end of Q2 2017.
Selecta is a leader in the European vending and coffee services market and geographically diversified across Europe with operations in 15 countries. The company operates more than c.132,000 vending machines and serves more than 6 million consumers daily.
Pelican Rouge, active in eight countries across Europe with more than 150,000 customers around the world, enjoys a leading position across its core vending markets and coffee services markets. Pelican Rouge also has strong roasting expertise and capabilities.
Selecta vending corner inside a convenience store in a service are along a highway. © Selecta.
By increasing the density of its operations and implementing more cost-effective sourcing and procurement, Selecta expects to deliver improved profitability going forward and an immediately deleveraged credit-profile on a pro-forma basis. It is further expected that the combined business will benefit from revenue growth potential driven by comprehensive product portfolio in all countries, as well as stronger service capabilities and sales force.
David Flochel, CEO of Selecta, said: “We are delighted to announce the combination of the Pelican Rouge Group and the Selecta Group. This marks the start of an exciting new chapter for our business and significant joint opportunities as a leading European operator. This partnership will provide a unique platform to better serve our customers, in line with our strategic focus on geographical reach, operational excellence, growth and innovation.”
In a joint statement by Dr. Nedim Cen, and Patrick Raming respectively Chairman and delegated Supervisory director of Pelican Rouge: “In July 2016, we announced a strategic review of the business. In conjunction with our advisors we considered a number of different options and we are pleased to announce a transaction today which offers the best deal for all our stakeholders, including employees, clients and suppliers. As a combined group, we believe the company will be strongly placed to cement its position as a leading operator in the sector in Europe.”
Image over the headline.- © Pelican Rouge.
Related Eastwind links ( Old platform -Spanish edition-):
Pelican Rouge, psLIVE e InnovaPos revolucionan el canal vending en España “a golpe” de maquina interactiva
(Pelican Rouge, psLIVE and InnovaPos revolt the vending channel in Spain with an interactive machine)