Northern Ireland's Tayto buys vending business

Northern Ireland crisp and snack manufacturer Tayto has purchased a vending machine business based in England. Leeds-headquartered Freedom Refreshments has been acquired by Tayto, which is based in Tandragee, county Armagh.

Freedom employs a workforce of 160 and comprises LTT Vending, Fitness Vending Solutions, Expresso Plus And Nivo.

The acquisition, through affiliate company Montagu Group, is Tayto's third in England this year. It is the first involving a vending machine business.

Paul Allen, Tayto chief executive, described the acquisition as a "key facet of our strategic development programme".

He continued: "While we have a strong share of the vending market in Northern Ireland, we only had limited reach into Great Britain and this deal will enable us to increase our presence significantly within this sector.

"The people at Freedom are experts at what they do, continually developing their brand and subsidiaries through both organic growth and acquisitions.

"Tayto has always invested heavily in its facilities. Over the past three years, we have reported a total operating profit of approximately £17.5 million. In the same period we invested more than £23 million in capital expenditure projects across the business, in order to assist with our future and strategic growth."

Edward Selka, former partner and owner of Freedom Refreshments, said: "We are a family-run company and as the new owner, Montagu Group, is also family-operated, we share many core values.

"We view this acquisition as an excellent opportunity for Freedom Refreshment's employees to enjoy a secure future in a positive workplace as the company continues to grow and succeed."