Tayto expands vending business in multi-million pound deal
AN affiliate company of Co Armagh snack giant Tayto has purchased a leading UK vending business in a multi-million pound deal.
Montagu Group, established to operate and direct the vending arm of the business, has made its second significant acquisition in the form of West Country Vending Service, a company which turns over £11 million a year and has a strong presence in England and South Wales.
The major deal includes West Country subsidiary, Hilton Vending, and brings an additional 5,300 operational vending machines under the Group's control.
The agreement follows the acquisition in April of Leeds-based vending solutions company, Freedom Refreshments. That deal ensured access to almost 7,000 vending machines across England.
Tayto Group's diversification into the vending-solutions sector has increased the company's turnover, which in the last twelve years, has risen from £19 million and is now in excess of £215m.
Chief executive of the Montagu Group Paul Allen said the acquisition of West Country was the next progressive step in a strategic development programme.
“Although we are still in the very early days of our expansion into the Great Britain vending sector, we are making large strides, building our profile and presence rapidly. We have acquired more than 12,500 vending machines in the space of a year which, in turn, has increased the group's turnover substantially."
“We are aiming for further growth within this sector as we continue to roll out our development plan, which opens up new distribution channels for Tayto Group products, alongside the extensive range of hot and cold drinks and confectionery that our machines carry," he added.
Tayto Group, which is owned by Northern Ireland family, the Hutchinsons, employs almost 2000 people across its operations and is the country's largest UK-owned crisp and snack manufacturer.