Leading European vending and coffee services provider Selecta Group, and long established coffee services and vending company Pelican Rouge Group have announced that they have signed an agreement to combine their operating businesses. Through the acquisition of Pelican Rouge, Selecta aims to create a leading vending operator and coffee services provider for the workplace, on-the-go as well as hotels, restaurants and cafes (“HoReCa”) across Europe, with presence in 15 countries.
David Flochel, CEO of Selecta, said: “We are delighted to announce the combination of the Pelican Rouge Group and the Selecta Group. This marks the start of an exciting new chapter for our business and significant joint opportunities as a leading European operator. This partnership will provide a unique platform to better serve our customers, in line with our strategic focus on geographical reach, operational excellence, growth and innovation.”
In a joint statement by Dr. Nedim Cen, and Patrick Raming respectively Chairman and delegated supervisory director of Pelican Rouge: “In July 2016, we announced a strategic review of the business. In conjunction with our advisors we considered a number of different options and we are pleased to announce a transaction today which offers the best deal for all our stakeholders, including employees, clients and suppliers. As a combined group, we believe the company will be strongly placed to cement its position as a leading operator in the sector in Europe.”
The transaction is subject to customary closing conditions, including regulatory and other approvals. Closing is expected to take place by the end of Q2 2017.