Montagu Group, the newly-formed vending business owned by the shareholders of UK snacks company Tayto Group, has made its second acquisition, snapping up Bath-based West Country Vending Service.
The deal, struck for an undisclosed sum, comes two months after Tayto Group’s owners set up Montagu to increase its presence in the vending sector in Great Britain after building a notable operation in the industry in Northern Ireland. Alongside the formation of Montagu, Tayto acquired Leeds-based Freedom Refreshments.
The purchase of West Country Vending Service includes its subsidiary Hilton Vending. Tayto said the deal gives its vending arm 5,300 more machines in south-west England and Wales. West Country generates an annual turnover of GBP11m (US$14.3m).
Montagu chief executive Paul Allen, who is also the CEO of Tayto, said: “Although we are still in the very early days of our expansion into the GB vending sector, we are making large strides, building our profile and presence rapidly. Through our acquisitions of Freedom Refreshments and West Country Vending Service, 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.” Tayto’s annual turnover stands at more than GBP215m.
Tayto has been acquisitive across its operations in recent months. In February, Tayto purchased London-based crisp maker Tavern Snacks, which came just weeks after the purchase of a majority stake in UK popcorn firm Portlebay Popcorn.