Miko is seeking to grow its presence in the Belgian and European retail coffee market just months after taking a majority stake in Dutch workplace food and beverage vending company MAAS
.jpg.aspx?lang=en-GB&width=700&height=375)
Miko is seeking to broaden its reach into the European retail packaged coffee market after acquiring SAS | Photo credit: Miko Coffee
Belgian coffee roaster Miko is striking out into the European retail packaged coffee market after acquiring Beerse-based SAS for €1.9m ($2.2m).
SAS, which reports annual revenues of around €35m, produces retail packaged coffee, capsules, bags and coffee filters for the European retail market. It also maintains a wholesale customer base.
Miko said the acquisition would allow it to broaden its traditionally out-of-home focus into the European retail coffee market and more than double its volumes of roasted and packaged coffee.
The company’s CEO Frans Van Tilborg also revealed plans to construct a roasting facility in Turnhout, Belgium, scheduled for completion “within three years.”
“While Miko historically has been focussing on the out-of-home market, companies, catering and institutions, SAS has traditionally held a strong position in the retail market. We are therefore achieving a high level of complementarity,” said Tilborg.
The acquisition comes just four months after Miko
increased its stake in Dutch workplace food and beverage vending company MAAS from 25% to 92% in a bid to grow its self-serve presence in the Netherlands.