Tayto affiliate company celebrates acquisition
AN affiliate company of Co Armagh snack maker Tayto Group has gobbled up another vending company in England.
Specialist vending-solutions company Montagu Group Ltd has paid an undisclosed sum to buy Cambridge Vending, which follows its take-over last year of LTT, NIVO, eXpresso Plus and West Country Vending Service.
The acquisition of Cambridge Vending provides Montagu with an additional 1,500 vending machines ( hundreds of which are equipped with cashless technology) located across the Cambridgeshire area, bringing the total number of machines it operates across Britain to more than 13,000.
Tayto Group chief executive Paul Allen has joined the board of Cambridge Vending as a result of the acquisition.
He said: “Although we are still in the early days of growth within the GB vending sector, we are making large strides, building our profile and presence rapidly within the regions. Buying Cambridge Vending is an important aspect of our growth strategy through which we hope to gain a national platform.
“Montagu’s vending acquisitions have substantially increased the Group’s turnover.
“With more than 30 years of service across the east of England, Cambridge Vending has built up an impressive customer base with strong year-on-year growth. We believe Montagu can build on this success to drive the business within this high growth economy.”
He added: “This new acquisition will help to pave the way for further expedited growth for Montagu Group.”
Cambridge Vending was established in 1986 and has grown organically in the last three decades. It turns over around £3 million a year and is an established provider of hot and cold drinks and snacks across various sectors.
Montagu Group is owned by the Hutchinson family, which also owns the brand portfolio of the Tayto Group. Montagu, which has its head office in Leeds, has completed a number of major acquisitions since its inception in 2017 and now employs more than 400 people.
Tayto (www.tayto.com) is part of the Northamptonshire-based Manderley Group, which in the last year has seen sales grow by 6.5 per cent from £163.3m to £174m, though re-tax profits almost halved from £2.9m to £1.5m.
During the last 12 years the group, which produces Tayto’s range of crisps and snacks at Tayto Castle in Tandragee, has acquired iconic crisp and snack brands Golden Wonder, Real Crisps, Mr Porky, Jonathan Crisp and Portlebay Popcorn. It makes more than five million packets of crisps and snacks every says at its six UK factories.