Northern Ireland

Tayto buys UK vending machine business

Person uses a vending machine Image copyright Getty Images
Image caption Tayto said the deal would allow it to "increase our presence" in the vending machine sector

Tandragee-based crisp maker Tayto has bought a Leeds-based vending machine business in a multi-million pound deal.

Freedom Refreshments is a UK-wide group that employs 160 people. It turned over £16m in 2016.

It is Tayto's third acquisition in England this year after it bought a snack company and a majority stake in a popcorn business.

The company said the deal allowed Tayto to "increase our presence significantly within this sector".

"While we have a strong share of the vending market in Northern Ireland, we only had limited reach into GB," said Paul Allen, the group's chief executive.

Image caption Tayto Group employed 1,400 people during 2016 and paid salaries of £29m

Tayto has established a new company, Montagu Group, to hold the vending machine business.

Meanwhile the Tayto Group's annual results for 2016 showed a pre-tax profit of £2.9m on turnover of £163m.

The group employed 1,400 people during the year paying salaries worth £29m.

The best-paid director received renumeration of just under £900,000.

The Tayto Group has been owned by the Hutchinson family since 1956 and is the third-largest snack manufacturer in the UK.

Related Topics