Grupo Azkoyen, headquartered in Navarre, Spain, has reportedly agreed to sell the catering arm of its business to Spanish dairy Leche Pascual for an estimated €33 million.

Pioneering the market in Spain, the group – comprised of seven companies – has been selling automatic vending machines for both the hot and cold food and drink sectors since 1956. The firm also develops and installs the latest in payment and coin selection systems for the vending industry in addition to other channels through its Coges S.p.a. business. In 2008 the vending machine and hot beverage dispenser specialist Coffetek Ltd joined the group, strengthening its expertise in the space.

Specialised in the production of catering equipment, including coffee roasters, the group’s Azkoyen Hosteleria unit is active in the coffee vending sector through the Caffè Mocay brand, which offers a varied range of quality coffees – primarily in single serve format – to cater for all tastes and occasions.

The latest move represents a considerable departure from Leche Pascual’s usual activities in the Spanish food and beverage market, however will reinforce its distribution to the hotel trade and give the dairy giant direct access to 75,000 clients. In its online communications, Leche Pascual has cited data showing that the hotel coffee sector is growing 2.6% annually and represents 40% of overall coffee consumption in Spain.

It is widely expected that a contract agreeing the sale will be signed in the coming days.

Posted by Matt on the 3rd June 2010