Italian coffee company Lavazza is set to increase its ownership in IVS Group, a vending machine operator in Italy, by acquiring an additional 28.36% stake for €185m ($197m).
The Turin-based coffee roaster, which currently holds a 20.4% stake in IVS, plans to launch a voluntary tender offer to take the company private.
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The proposed buyout offer brings the enterprise value of IVS Group to around €650m ($694m).
Lavazza has announced its intention to offer €7.15 per share to other IVS investors. The price represents an 11% premium over the stock’s closing price.
The move is part of Lavazza’s broader plan to gain full control of the Bergamo-based vending machine operator by 2027, following an agreement with IVS Partecipazioni, the majority stakeholder.
IVS Partecipazioni, which currently retains a 50.75% stake in the company, will continue to hold its shares until the put and call options become exercisable after the 2026 full-year results of IVS Group.
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By GlobalDataLavazza group CEO Antonio Baravalle “The structure of the operation in the event that, starting from 2027, the options provided for in the agreements were exercised would allow the Lavazza group to strengthen its ability to compete with the other major coffee players at an international level, thanks to an ever-growing dimension more important, also in the strategic vending channel, structuring itself in an even more solid way to compete in the current complex macroeconomic scenario.”
IVS Group is claimed to be the largest vending machine operator in Italy with a 21% market share by value and the second-largest in Europe with a 7% market share.
The group’s network includes more than 281,000 automatic vending machines and office self-serve coffee machines, spread across 11 markets, including Italy, France, Germany, and Spain, according to World Coffee Portal.
Last year, the company reported 34% year-on-year sales growth, achieving €762.2m ($814m) in sales and an adjusted net profit of €13.8m ($14.7m).
In February, Lavazza expanded its partnership with Keurig Dr Pepper (KDP) to enhance sales and distribution across North America.
This collaboration aims to increase the availability of Lavazza K-Cup pods and introduce Kicking Horse Coffee, a Canadian brand, in the K-Cup pod format.
