CHAM, Switzerland & LONDON & MUNICH–(BUSINESS WIRE)–
KKR, a leading global investment firm, announced today the closing of
the acquisition of Allianz Capital Partners’ (“ACP”) stake in the
Selecta Group (“Selecta”). All conditions precedent in the acquisition
agreement entered into between KKR and ACP in October 2015 have been
fulfilled, including the consent of Selecta’s bondholders.
The partnership with KKR aims at further strengthening Selecta’s leading
position in European vending and coffee services. Selecta is
geographically diversified across Europe with operations in 21 countries
and a special focus on Switzerland, Sweden and France. The company
operates more than 145,000 vending machines, employing approximately
4,500 people, and serves more than 6 million consumers daily.
Under ACP’s stewardship, Selecta has been able to maintain and
strengthen its competitive position despite a difficult overall vending
environment in recent years. KKR has already supported Selecta since
2014, when KKR provided €220 million in long-term financing as part of
the Group’s overall refinancing, which was a major milestone for Selecta
in driving identified growth initiatives.
– Ends –
About Selecta Group
Selecta is a leading vending and coffee services company in Europe, with
a turnover of €714 million (for the twelve months ended June 30, 2015)
and employing approximately 4,500 people. Founded in 1957 and
headquartered in Switzerland, Selecta has grown its geographic market
presence to 21 countries across Europe. Selecta serves 6 million
consumers every day at its 145,000 point of sales addressing the growing
need for out of home food and beverage services at the workplace and on
the go. Selecta is putting a strong focus on improving the coffee
experience at workplaces through an exclusive partnership with Starbucks
as well as by offering a full range of high quality coffee blends such
as Selecta’s own miofino brand. In addition, Selecta offers state of the
art coffee machines, which are serviced by its own highly professional
service organisation. Selecta’s Swiss roots stand for service
excellence, a high-quality product offering and innovative concepts for
out of home food and beverage services. For further information, please
visit Selecta’s website at www.selecta.com.
About KKR
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners’ capital and brings opportunities to others through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com
and on Twitter @KKR_Co.
About Allianz Capital Partners
Allianz Capital Partners is the Allianz Group’s in-house investment
manager for alternative investments. With offices in Munich, London, New
York and Singapore, Allianz Capital Partners manages more than €14
billion of alternative assets. The investment focus is on direct
investments in infrastructure and renewable energy as well as private
equity fund investments. ACP’s investment strategy is targeted to
generate attractive, long-term and stable returns while diversifying the
overall investment portfolio for the Allianz Group insurance companies.
www.allianzcapitalpartners.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20151211005629/en/
KKR
Frankfurt
Dominik Veit
Phone: +49(0)69 92187487
Email:
dveit@heringschuppener.com
or
London
Victor
Mallet
Phone: +44(0)20 7251 3801
Email: victor.mallet@finsbury.com
or
Allianz
Capital Partners
Stefanie Rupp-Menedetter
Head of
Communications
Phone: +49(0)89 3800 2743
Email: stefanie.rupp@allianzcapitalpartners.com
Source: KKR