Kkr Asset Management will finance the Argenta Group with a capital of 100 million euros in shares and bonds, to repay creditors and guarantee liquidity useful for the growth of the group. This was announced by the investment manager owned by Kkr, who also announced that the shareholders in office will invest 10 million euros.
Argenta is one of the leading vending machine operators in Italy, with vending machines located in around 88 sites and around 2 million users a day. The company achieved a turnover of 200 million euros in 2013.
Satisfaction with the agreement emerges among the managers of the group: “I am pleased – commented the general manager Stefano Fanti – that one of the main investment companies, with the reputation of Kkr, is investing in our company. The refinancing of Kkr demonstrates the quality of our operations”.
According to Mark Brown, director of Special Situations in the London office of Kkr Asset Management, Argenta has "a long-term capital investment structure adequate to guarantee growth, both systematically and through selective acquisitions".
