Integer eaten up by SnackTime for £11m
Corby-based Integer has been bought by vending machine operator SnackTime as part of an £11m deal. The acquisition of Integer’s parent company Vendia UK also includes Simply Drinks, Drinkmaster and VMI.
Blair Jenkins, chief executive of SnackTime, said: “Vendia's business is an ideal strategic fit with SnackTime and its exposure and expertise in the hot drinks market perfectly complements our existing snacks and chilled food operations.
“The combined group will have an extensive footprint throughout the UK and Ireland, providing excellent cross-selling opportunities and even greater awareness for our brand partners.
“This is a significant milestone in the company's evolution and is a major step towards our goal of becoming Europe's leading snack, chilled and hot beverage vending solution provider.”
For the year ended 31 December 2009, Vendia UK reported audited revenues of £19.7m and adjusted EBITDA of £2.1m.
