The Azkoyen Group, a leading Spanish technology multinational, offering automated products and services designed to bring unique experiences to people in their everyday lives, today announced the 100% acquisition of Ascaso, a manufacturer of traditional premium coffee machines since 1962.
Ascaso is a family business, based in Barcelona, that manufactures high quality traditional espresso machines. Their products feature a unique technology based on their 100% stainless steel composition, which allows significant energy savings compared to other machines on the market and preserves the quality in the cup, avoiding alterations in the coffee brewing process. Precision, design and manufacturing excellence are their hallmarks and will now form a part of the Azkoyen Group, which aims to continue the family’s legacy and maintain its commitment to the employees of its Barcelona factory. In addition, José Luis Ascaso, son of the founder and the current CEO and soul of the company, will also be joining the Group.
The acquisition of Ascaso strengthens the Azkoyen Group’s Coffee business, which already accounts for 75% of the turnover of the Coffee Vending Systems division, and builds on its existing leadership in the OCS, Horeca and Vending segments, completing the range of automatic and semi-automatic coffee machines and establishing the Group as one of the few full-service suppliers in the world.
The purchase of Ascaso transforms the Azkoyen Group into a benchmark in the coffee world, capable of offering a complete portfolio of premium brands and solutions and with an extensive presence in numerous international markets.
Geographical and product synergies
Firstly, Ascaso distributes its products in international markets such as Southeast Asia (China and Korea), Europe (Spain, France, Germany and the United Kingdom) and North America (Mexico, Canada and the USA), which offers the Azkoyen Group a new international dimension that complements its current presence in the Coffee world in Europe, the United Kingdom, the USA and Latin America.
The Ascaso production centre in Gavá, Barcelona, will be added to those that the Azkoyen Group already has in the Coffee sector in Peralta (Navarra), Bristol (United Kingdom) and Pereira (Colombia), in Payment technologies in Peralta (Navarra) and Schio (Italy) and in Time, Security and Access Systems in Stetten akM (Germany) and Antwerp (Belgium).
Secondly, and given that the Group has had until now a leading position in OCS, Horeca and Vending, this new acquisition also makes it a leader in the segments that use traditional machines and Home Pro machines, thus completing the entire Coffee portfolio.
The price of the transaction is 17 million euros, with possible additional payments of 4 million euros contingent upon the 2022-2024 business plan.
This transaction follows the recent acquisition of the IoT and Payment Solutions provider, Vendon, and reinforces the expansion and growth strategy of the Azkoyen Group’s Coffee and Payment Solutions divisions.
Commenting on the acquisition, Juan José Suárez, Chairman of the Azkoyen Group, said: “The acquisition of Ascaso provides us with new potential in the premium coffee range, making us a unique player, able to offer our products across all the segments. In addition, Ascaso’s philosophy of product innovation and manufacturing excellence provides us with a new leadership position in the premium coffee segment, from semi-automatic to traditional coffee machines, which already represents a crucial part of our revenues and for which we have very ambitious growth plans.
We believe that Ascaso’s employees and its CEO will bring a wealth of talent to our ranks and its headquarters in Barcelona, a mecca of design and innovation, will open up numerous opportunities for new product development.”