Coffee and vending machine supplier, Cambridge Vending, which has a strong presence in the east of England, has been purchased by Montagu Group Limited. This is the Group’s latest acquisition in the vending sector, following the 2017 acquisitions of LTT, NIVO, eXpresso Plus and West Country Vending Service.
The acquisition of Cambridge Vending provides Montagu with an additional 1,500 vending machines located across the Cambridgeshire area, bringing the total machines operated by the Group across the UK to more than 13,000.
Mark Stone, chief operating officer of Montagu Group Limited, explains: “Although we are still in the early days of growth within the UK 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.
“As a result of Montagu’s three vending acquisitions, we have acquired more than 13,000 vending machines in just over a year which, in turn, has increased the Group’s turnover substantially.
“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 it has grown organically in the last three decades.
Mark adds: “Cambridge Vending has an excellent reputation and there will be a smooth transition for clients as Montagu takes the reins. We are also a family run business and share many similarities with Cambridge vending and all of the team will transfer to Montagu employment with Peter Wilson continuing in his role as MD.”
The acquisition of Cambridge Vending includes 1,500 machines, hundreds of which are equipped with cashless technology, which is an area on which the Montagu Group is focusing.
Mark explains: “The purchase of Cambridge Vending allows us to develop a presence in the east of England and, as a progressive company; we are always investing in new technology. Cambridge Vending has ticked all the right boxes in this respect with cashless units already operating successfully. We have seen that more and more consumers are seeking the removal of purchase barriers and as such, we will be rolling out additional cashless units across our Group’s sites throughout 2018.”
Cambridge Vending turns over around £3million pa and is an established provider of hot and cold drinks and snacks across various sectors.
Peter Wilson, MD of Cambridge Vending, adds: “We are delighted that Montagu Group has purchased the company’s entire share capital and we look forward to working with the established Montagu team to grow our business further.
“We have been proudly serving our region now for more than 30 years and all of us welcome the opportunity to take the next step in our company’s development and to be part of a dynamic, fast-growing and customer-driven Group.
“This acquisition as an excellent opportunity for Cambridge Vending’s employees to enjoy a secure future in a positive workplace as the company continues to grow and succeed.”
Mark concludes: “This new acquisition will help to pave the way for further expedited growth for Montagu Group.”