Saturday 13 July 2024
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Miko announces the acquisition of a 92 percent interest in Dutch full-service company Maas

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TURNHOUT, Belgium – Miko, the Euronext Brussels listed specialist in coffee service, announced today that it has increased its stake in Dutch company MAAS from 25 % to 92 %. The acquisition of the initial 25 % stake occurred in March this year. Shares were purchased from the investment fund “Nimbus”. The remaining shares stay with the management. Located in Son near Eindhoven, MAAS achieved a pre-COVID turnover of approximately EUR 70 million with a workforce of more than 500. MAAS provides its customers – particularly large companies, public institutions and universities – with medium and large coffee and vending machines.

The company also focuses on supplying technical support, and all the necessary ingredients, i.e. not only coffee but also milk, tea and hot chocolate. Besides the hot drinks, MAAS also provides a wide range of soft drinks, snacks and tasty treats. In line with its motto of “Treat Yourself Well”, MAAS is well-known for its range of customised drink solutions. In recent years, the company has had a clear focus on sustainability, with such initiatives as impact@origin and impact@footprint.

According to Frans Van Tilborg, Miko Group CEO: “MAAS is a very respected player in the Dutch vending market. With this acquisition we now put Miko even stronger on the map in the Netherlands. Given our common language and the short geographical and cultural distance between Miko and MAAS, we are convinced that there will be further constructive synergies between our organisations in the longer term.”

CEO and co-shareholder of MAAS, Wouter Fijnaut, adds: “It is our pleasure to be welcomed by a coffee roaster with a history dating back more than 200 years, which on the one hand has a long-established tradition, but on the other has managed to adopt a constantly innovative and flexible approach over the centuries. With our strong focus on quality, service and sustainability, and by combining our strengths, we will be able to provide even better services for our customers, enabling them to enjoy the tastiest coffee available, time and again. The management team has every confidence that all the factors are in place to enable MAAS to excel even further in the years to come.”

“After the sale of our plastics packaging department earlier this year, the funds released are now being used to further expand the coffee service department. The big step we are taking today fits perfectly in our long-term strategy to continue to develop our international coffee service organisation by means of participations and by setting up our own subsidiaries in various countries. The group’s home countries in Europe are currently: Belgium, the Netherlands, France, Germany, the United Kingdom, Poland, the Czech Republic, Slovakia, Denmark, Norway and Sweden.”, adds Frans Van Tilborg.

About Miko

Miko has been active in coffee service for over 200 years, and was floated on Euronext Brussels in 1998. Miko is an international group with companies in Belgium, France, UK, the Netherlands, Germany, Denmark, Norway, Sweden, Poland, the Czech Republic, Slovakia, and Australia.

About MAAS

MAAS was founded in 1889 and is located in Son. The company has a workforce of approx. 500 and is a leading force in the field of food and drinks vending solutions, serving more than 2,200 customers daily, where more than 1.4 million drinks and snacks are sold every day. MAAS is at the forefront of sustainability and believes that people’s lives are more fulfilling when they eat and drink well. And that is why MAAS provides the tastiest sustainable coffee, tea, soft drinks and snacks to everyone in the workplace, 24/7.

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