Tayto sister firm in deal for another vending company
The vending group arm of crisps giant Tayto has acquired another vending machine company for an undisclosed sum.
Montagu Group, a sister company of Tayto, is taking on Cambridge Vending's 1,500 machines as part of the deal. It follows similar acquisitions last year.
Cambridge Vending has a large number of cashless machines, which Montagu said was an area for growth in future.
Montagu Group is owned by the Hutchinson family, which also owns Tayto.
During 2017, Montagu Group acquired vending firm Freedom Refreshments, which owned LTT, NIVO and Espresso Plus, as well as West Country Vending Service.
The acquisition of Cambridge Vending now brings the total number of machines operated by Tayto across the UK to more than 13,000.
Paul Allen, Tayto Group chief executive said: "Although we are still in the early days of growth within the GB 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.
"With more than 30 years of service across the east of England, Cambridge Vending has built up an impressive customer base with strong year-on-year growth.
"We believe Montagu can build on this success to drive the business within this high growth economy."
Cambridge Vending was established in 1986 by the Sutcliffe family and turns over around £3m every year.