KKR Agrees to Acquire Vending Machine Operator Selecta From Allianz
buyout group KKR acquire Selecta Group from Allianz Capital Partners (ACP).
Selecta’s shareholders still need to approve the deal, the companies said in statement on Monday.
Selecta is a European vending services operator with operations in 21 countries. The company has over 4, 500 employees, and 145, 000 point-of-sales. Selecta generates over $790 million in revenue.
Allianz bought Selecta in 2007 for $1.53 billion. Althiough the firma involve in the deal did not disclose a price tag, Reuters citied person familiar with the deal who said: “it was able to reap a positive purchase price from the stake sale.”
KKR has supported Selecta since 2014, when KKR Credit provided $249 million in long-term financing as part of the Group’s overall refinancing.
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Read more about: Allianz Capital Partners GmbH, Business/Finance, buyout, Debt Financing, Investment, Kohlberg Kravis Roberts, KOHLBERG KRAVIS ROBERTS & CO. L.P., M&A