ITALY - Advent portfolio company Argenta merges with Cafebon,

The merger increases Argenta’s aggregate sales volume to more than 500 million vends per annum, consolidating its position as the number one player in the highly fragmented Italian vending-machine services sector. The value of the transaction has not been disclosed.

Cafebon operates under the Cantel Refresh, Coffee Break, GDA, Frigoli and Bon Service brands and is the fifth strategic merger by Argenta since Advent made its investment in June 2005. Argenta’s previous mergers are Dolomitica, L’Automatica, Dap Sirmad and Cemar.

Cafebon is an important part of Argenta’s expansion plans, broadening its geographic coverage in Lombardy, which generates 20% of Italian GDP, and specifically Milan, Italy’s business services capital.The strategy for the combined business centres on driving further expansion through increased customer growth, improved presence in traditional and new channels (such as out-of-home entertainment points, banks and underground locations), extended product lines (including toasted sandwiches), and further strategic acquisitions.

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• Southern Europe