The Northern Ireland group that owns crisps and snacks company Tayto has expanded its operations in the UK with the acquisition of a vending company in an undisclosed value deal.
Montagu, which is privately owned by the Hutchinson family, has purchased Cambridge Vending in the east of England.
The vending company, which was founded in 1986, has an annual turnover of around £3 million and an established business providing hot/cold drinks and snack options across a number of different sectors.
The acquisition signals Montagu’s ambition to expand its foothold in the UK vending market. Last year it bought LTT, NIVO, eXpresso Plus and West Country Vending Service. The Cambridge Vending deal will grow the the number of machines operated by Montagu across Britain to more than 13,000.
Hundreds of Cambridge Vending’s 1,500 machines are currently equipped with cashless technology, Montagu says, which is an area which it wants to focus on.
Paul Allen, Tayto Group chief executive, said: "Although we are still in the early days of growth within the Great Britain vending sector, we are making large strides, building our profile and presence rapidly within the regions.
“The acquisition of Cambridge Vending is an important aspect of our growth strategy through which we hope to gain a national platform.”
