GRAND DUCHY OF LUXEMBOURG – IVS Group S.A. informs that its Spanish controlled company, DAV S.L., has acquired 100% of Grup Ibervending S.A., active in the vending business in Spain, with sales of around Euro 23 million and with an EBITDA of around Euro 4.25 million.
The acquisition includes also the coffee roasting business Café Vitoria.
The enterprise value of the transaction is equal to Euro 25.5 million; a balance of 25% of the price will be paid in two tranches, during 2017 and 2018, according to the adjustments on the net financial position.
Ibervending group is one of the major Spanish players in the vending sector, with a network of 9 branches, which will be integrated during 2017 with IVS existing Spanish branches (9), thus covering the largest part of the Spanish territory.
With this acquisition, closed just a few weeks after that of Demomatic in Switzerland, IVS becomes the third major player in the vending sector in Spain, a highly fragmented market, likewise in Italy and France, and confirms its European growth strategy, based on the excellence of its operating skills and economic performance.
BDO, Deloitte Legal e Roqué Advocats acted as advisor in the transaction.
IVS Group S.A. is the Italian leader and the third player in Europe in the business of automatic and semi-automatic vending machines for the supply of hot and cold drinks and snacks (vending).
The business is mainly carried out in Italy (85% of sales), France, Spain and Switzerland, with around 155,000 vending machines, a network of 75 branches and around 2,400 employees.
IVS Group serves more than 15,000 corporate clients and public entities, with more than 700 million vends per year.