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The Belgian coffee specialist Miko is buying coffee roaster SAS for over 12 million euros. The companies are building an entirely new roasting plant in Turnhout, in the north of Belgium.
Doubling volumes
Miko, a listed coffee service specialist, has big plans in its home town Turnhout and is joining forces with local industry peer SAS. Over the next three years, Miko will build an entirely new coffee roasting plant in the region, which SAS will also use. Miko is acquiring SAS for a purchase price of more than 12 million euros, or 6.5 times the EBITDA of the company.
Frans Van Tilborg, CEO of the Miko group, emphasises the complementarity of both companies. While Miko is primarily active in the out-of-home market, SAS focuses on private label products for retail. Although the latter also has a wholesale business that serves the region. For certain specialised coffee products, the companies have already been working together for years.
“With the acquisition of SAS, the volumes we roast and pack will more than double. That is why we can quickly evolve to a healthy utilisation of the capacity of our new site”, says Van Tilborg. Earlier this year, Miko sold its plastic packaging division to a German company but took a 92 per cent stake in the Dutch vending machine specialist Maas.
