KKR Set to Acquire ACP's Majority Stake in Selecta
October 14, 2015
KKR has agreed to acquire a majority stake in Selecta Group, a vending and coffee services company, from Allianz Capital Partners. The deal is expected to close in 4Q. With operations in 21 European countries, Selecta operates more than 145,000 vending machines, employs approximately 4,500 and serves over 6 million consumers daily; it recorded sales of about €714 million in the 12-month period ended June 30. KKR has backed Selecta since 2014, when the firm's credit arm provided €220 million as part of a refinancing. Allianz acquired the company for £772 million in 2007.