Lavazza’s holding company FinLav has acquired a 17.71% stake in Luxembourg-based vending company IVS Group for approximately €75 million.
According to a statement released by IVS Group, FinLav acquired 6,900,000 shares in IVS Group through its Torino 1895 Investimenti subsidiary, making it the second-largest shareholder in the vending company.
IVS Group is one of the largest vending operators in Europe, with over 201,000 vending machines across Italy, France, Spain and Switzerland, which vend a range of hot and cold drinks as well as snacks.
The announcement of FinLav’s share acquisition came days after Amber Capital UK LLP and Amber Capital Italia decided to sell the majority of their shares in IVS Group on 24 December 2019.
Amber Capital previously held approximately 5.35% of shares in IVS Group, but now owns 0.299% of the company, holding 116,545 shares in IVS.
© FoodBev Media Ltd 2019