Advent merges coffee vending businesses

Global firm Advent International is continuing with its buy-and-build consolidation of Italy’s coffee-vending operator sector.

Advent International, a global private equity firm, has merged its portfolio firm Argenta Group, an Italian vending-machine services company, with rival Cafebon.

Advent: caffeine injection

The merger has created Italy’s number one vending machine operator in a highly fragmented market.

The value of the transaction has not been disclosed.

Cafebon operates under a number of brands, including Cantel Refresh, Coffee Break and Bon Service and is the fifth strategic merger by Argenta since Advent made its investment in June 2005.

Argenta’s previous mergers are Dolomitica, L’Automatica, Dap Sirmad and Cemar.

The transaction is typical of Advent International’s approach in consolidating sectors – backing high-growth companies as a platform for expansion.