Cham, Switzerland, January 24, 2018: Selecta AG (“Selecta”), a leading European vending and coffee services provider, today announced that it has reached an agreement to sell Selecta Finland to JOBmeal. JOBmeal is a leading provider of office coffee services in Sweden. The acquisition of Selecta Finland represents JOBmeal’s first expansion to a new country. Selecta Finland employs about 95 people and generated net sales of approximately €13.7 million in the business year 2016/17. The sale is subject to approval from the European Commission (EC) and the finalization of the transaction is expected by March 2018. Selecta will continue to operate in Finland through its Pelican Rouge entity in Finland (http://www.pelicanrouge.com/fi).
The acquisition of the Pelican Rouge group by Selecta required a formal clearance from the EC to ensure that the transaction would not raise competition concerns. The EC undertook a country-by-country assessment of the combined market shares of the parties in the vending services markets and the competitive impact of the transaction on these markets. Further to its investigation, the EC concluded that the transaction could raise competition concerns in Finland due to the parties’ high combined market share in Finland. The EC accordingly informed the parties that a remedy would be necessary in Finland to remove these concerns. Therefore, Selecta decided to sell the Selecta Finland business.
The financial conditions of the transaction have not been disclosed.
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About Selecta Group
Headquartered in Switzerland since 1957, Selecta is a leading self-serve retailer operating in 15 European countries. An annual turnover of EUR 1.3 billion is a testament to the passion and dedication of more than 8,000 highly skilled Selecta employees, providing great quality coffee brands and convenient food and beverages concepts for the workplace, on-the-go as well as hotels, restaurants and cafes (“HoReCa”). For further information, please visit www.selecta.com.
Headquartered in Solna outside of Stockholm, JOBmeal is a leading provider of office coffee services in Sweden with a nation-wide presence through 25 local offices. By being close to the customers and through an entrepreneurial culture, JOBmeal is strongly committed to delivering a great coffee experience to the users of its coffee solutions. JOBmeal has an annual turnover of around 50 million€ and circa 250 employees. For further information, please visit www.jobmeal.se.