The Azkoyen Group, Spain's leading technology group for automated products and services, has now acquired 100% of coffee machine manufacturer Ascaso. The purchase price amounts to EUR 17 million. Only recently, the primion parent company had acquired the Latvian company Vendon.
- Ascaso is one of the leading European manufacturers of traditional premium espresso machines.
- With Ascaso, the group becomes one of the few full-service providers worldwide.
- The acquisition of Ascaso accelerates the Group's international growth, strengthens its presence in Europe and gives it a foothold in the Asian and North American markets.
Ascaso is a traditional family business based in Barcelona that has been manufacturing high-quality espresso machines since 1962. José Luis Ascaso, son of the founder and current CEO, will continue to accompany the company.
The acquisition of Ascaso enhances the Azkoyen Group's coffee business, which already accounts for 75% of the Coffee Vending Systems division's turnover. Ascaso is present in international markets such as Southeast Asia (China and Korea), Europe (Spain, France, Germany, and the UK) and North America (Mexico, Canada, and the US). The acquisition strengthens Azkoyen's leading role in the OCS, Horeca and Vending segments and completes its range of automatic and semi-automatic coffee machines. Azkoyen is thus one of the few complete suppliers worldwide.
The Ascaso production centre in Gavá, Barcelona, thus completes the Azkoyen Group's previous production facilities in the coffee sector in Peralta (Navarre), Bristol (United Kingdom) and Pereira (Colombia), in the payment technologies sector in Peralta (Navarre) and Schio (Italy), and for Time Recording, Security Technology and Access Control in Stetten a. k. M. (Germany) and Malle (Belgium).
Juan José Suárez, CEO of the Azkoyen Group: "The acquisition of Ascaso opens up new potential for us through manufacturing excellence and product innovation. We have very ambitious plans here and we are sure that the employees and the CEO of Ascaso will drive these goals through their talents and enrich the Azkoyen Group".