The Miko Group has acquired SAS, a coffee roasting company with a turnover of approximately US $40 million.
This purchase price agreed in the context of the transaction was set at 6.5 times the consolidated earnings before interest, taxes, depreciation and amortization which amounts to approximately US $2.1 million.
“SAS is a fellow coffee roasting company with whom we have been collaborating for many years for certain specialist coffee products. It is a highly respected player in the retail market,” says Frans Van Tilborg, CEO of Miko-Group.
“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.”
SAS is located in Beerse, near Turnhout in Belgium, and specialises in the manufacturing of coffee products such as one kilogram and 250-gram packs, capsules, pads, bags, coffee filters, and more.
Its main focus is mainly in the retail of the private-label market. SAS is also a coffee wholesaler operating in the local region.
Miko plans to construct a completely new roasting facility alongside the motorway in Turnhout, which the brand describes as an “ideal operational location for all our personnel”. It will be roughly five kilometres from Miko’s current premise and nine kilometres from SAS.
“The acquisition of SAS means that we will increase the volumes of coffee that we are roasting and packaging more than twofold,” says Van Tilborg.
“That is how we will rapidly be making good use of the capacity available in the new roasting facility. This is a fine example of synergy between our companies.”
Miko anticipates the new facility will be fully operational within three years.
“We are delighted to receive a warm welcome from our neighbour and fellow coffee roaster Miko. When Miko forged a plan to construct a completely new roasting facility, it almost felt predetermined for us to talk about coming to an agreement,” says Dominic Sas from SAS.
“Throughout our entire history that we were each other’s neighbour, we clearly had mutual respect for each other’s parallel, strong family values. We are proud to announce that SAS has found a new home in the safe, warm hands of Miko.”
In May 2021, Miko announced that it had sold its plastic packaging department to German company PACCOR. In July 2021 Miko then acquired a 92 per cent share of Dutch company Maas, a large-scale vending-solution specialist.
Miko has been in the coffee service for more than 200 years with companies across the globe in Belgium, France, the United Kingdom, the Netherlands, Germany, Denmark, Norway, Sweden, Poland, the Czech Republic, Slovakia, and Australia.
For more information, visit www.mikocoffee.com.
