Kohlberg Kravis Roberts, a private equity investment firm based in the USA, has announced it will invest around €100m in Italian coffee vending machine operator Gruppo Argenta.
Gruppo Argenta provides vending services in Italy, particularly hot and cold beverages, snacks; yogurts, filled rolls; fruit salads, and croissants.
Accoroding to the FT, the investment will be made in the form of loans designed to enable Gruppo Argenta to reduce its debt load and get cash for expansion.
Kohlberg Kravis Roberts London Special Situations director Marc Brown said: ‘The refinancing means the company will have more headroom in terms of maturities and covenants. We’ll see more of that type of transaction as banks seek to de-lever.’
(Whatever that means – Ed.)