Miko Group takes over coffee roaster SAS
Image credit: Juan Pablo (Pexels)
Miko, the coffee service specialist listed on Euronext Brussels, has announced that it is taking over its fellow roaster from Campino SAS.
SAS, located in Beerse near Turnhout, has a turnover of around €35 million with around 100 employees. SAS specialises in the production of a wide range of coffee products. In addition to the 1kg and 250g packages, it also produces capsules, pods, sachets, coffee filters, etc. The focus is on the private label market, especially retail. SAS also owns a wholesale coffee business that operates in the greater Kempen region.
Frans Van Tilborg, CEO of the Miko Group, said: “SAS is a fellow roaster with whom we have been working for many years for some specialty coffee products. It is a highly respected player in the retail market. While Miko has historically focused on the out-of-home market, businesses, restaurants and institutions, SAS has long had a strong position in retail. Thus, we create a beautiful complementarity.
“We intend to build a brand new roasting plant next to the highway in Turnhout. This new building is located 5 km from the current site of Miko, and 9 km from SAS. An ideal base for all our staff. With the acquisition of SAS, the volumes we roast and package will more than double. As a result, we can quickly move towards a healthy operation of the capacity of our new building. It is a great synergy between our companies in Campine. We believe the new building will be fully operational within three years.”
Dominic Sas of SAS adds: “We are pleased to be welcomed by our neighbour and fellow roaster Miko. When Miko conceived the project to create a new roasting plant, we seemed predestined to talk to each other and find an agreement. During all these years when we have been neighbors, we have shown mutual respect for the professionalism of each other and especially for the equally strong family values of each other. We are proud that SAS is in the safe and warm hands of Miko.”
The purchase price agreed in connection with the transaction was set at 6.5 x SAS’s (consolidated) EBITDA of approximately €1.9 million.
In May this year, Miko announced that it had sold its plastic packaging division to German company PACCOR. In July, it acquired 92% of the Dutch company Maas, a leading specialist in vending solutions.