IMA Group acquires two coffee companies

The Industria Macchine Automatiche (IMA) Group has signed agreements to buy 70 per cent of Spreafico Automation and 61.45 per cent of Tecmar, two companies that manufacture automatic filling machines. The Italy-based Spreafico designs, produces and markets automatic machines that fill and prepare single-serve capsules for coffee and other soluble products. Tecmar, based in Mar del Plata, Argentina, manufactures general automatic packaging machines in the coffee and food sectors. “IMA already has a consolidated presence in the coffee sector. Simultaneous entry into Spreafico Automation and Tecmar allows us to complete the range of products that we can offer and significantly strengthen our positioning in the Latin American market, which is expected to grow strongly in the coming years,” IMA Chairman and CEO Alberto Vacchi says. IMA expects to pay 9.6 million euros for the controlling stake in Spreafico, scheduled to take place in April 2019. Spreafico estimates a turnover of more than 16.5 million euros and earnings before interest, tax, depreciation and amortisation (EBITDA) of approximately 2.5 million euros for the 2018 financial year 2018. The company currently has 45 employees. IMA has also been granted a purchase option, exercisable in April 2028, for the other 30 per cent of Spreafico Automation. The controlling stake in Tecmar is valued at 1.3 million euros, with the deal also scheduled to close in April. Tecmar estimates a turnover of approximately 4.5 million euros and an EBITDA of approximately 0.5 million euros for the 2018 financial year. The company currently employs 52 peoples. IMA has also been granted a purchase option, while minorities have been granted a sale option, exercisable in April 2024, for the other 38.55 per cent of Tecmar.