Expansion: Azkoyen sells coffee machine division

Spanish vending machine maufacturer Azkoyen has sold its coffee machine and coffee grinder division for around 1.5m euros. The buyer, whose identity has not been disclosed, paid around 1m euros for the division, plus an amount that varies according to the turnover of the buyer from certain clients. This component increases the amount paid by around 500,000 euros.

Spanish vending machine maufacturer Azkoyen has sold its coffee machine and coffee grinder division for around 1.5m euros. The buyer, whose identity has not been disclosed, paid around 1m euros for the division, plus an amount that varies according to the turnover of the buyer from certain clients. This component increases the amount paid by around 500,000 euros.

The transfer of Azkoyen's coffee machine and coffee grinder division took place on April 26. In the first quarter of this year, Azkoyen generated a net profit of 4.07m euros, double its net profit for the first three months of 2006.