Miko Acquiring Capriole Coffee Service
Miko announced yesterday the acquisition of the Dutch and Belgian coffee service company Capriole Coffee Service. Capriole achieves sales of over €12m with about 60 employees. We see this, after the acquisition of Beyers coffee's out-of-home business in December last year, a next cornerstone investment in Miko's buy-and-build strategy. Accumulate rating and € 85 Target Price maintained.Miko SA. Miko NV is a Belgium-based company that is engaged coffee and snacks service and plastic packaging sectors. The Company's coffee segment delivers Its products to the out-of-home market, such as coffee, fruits, water and other beverages, snacks and sweets that are consumed outside the private home, in places like offices, businesses and restaurants. Within the Plastics segment, the Company manufactures plastic packaging products, among others for the food industry and the homecare sector, such as bubble wraps for laundry detergent. Miko NV has subsidiaries in the United Kingdom, France, the Netherlands, Germany, Poland, the Czech Republic, Slovakia, Sweden, Denmark and Australia. It also sells its coffee concepts through independent distributors in thirty countries in Europe, among others.
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