GRAND DUCHY OF LUXEMBOURG – IVS Group S.A. (Milan: IVS.MI) informs that its subsidiary IVS Italia S.p.A., in order to accelerate the transfer of the service to all of the clients included in the agreement between IVS and Nespresso Italiana S.p.A. announced on October 2016, has signed the acquisition agreement of the business line of Argenta S.p.A. and of its controlled company Somed S.p.A. (mostly active in Puglia region) related to the distribution of the Professional Line of Nespresso coffee pods.
The business acquired generates annual sales of around Euro 8,3 million. The provisional acquisition price, equal to slighty less than Euro 6 million (including the stock of specific coffee vending machines) was paid in part, Euro 2 million, at the signing of the agreement.
The remaining part of the price will be paid in the next 12 months, according to the conditions provided for by the contract.
This acquisition is linked with the agreement between IVS and Nespresso Italiana S.p.A., for the exclusive distribution agreement of the above mentioned product line on the largest part of the Italian market.
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.