Vending machine operators sold out of administration

Blackburn-headquartered vending machine operators Uvenco, Snack In an Box and Drinkmaster have been sold out of administration, saving 169 jobs.

The companies operate in the food and beverage vending machine space, offering service, maintenance and rental of vending machines to public and private sector clients, both directly and via a franchise network across the UK and Northern Ireland. The company also has sites in Coventry, London, Newport and Cornwall.

Howard Smith and David Costley-Wood from KPMG’s restructuring practice were appointed joint administrators to Uvenco, Snack in the Box and Drinkmaster yesterday. All three companies are subsidiaries of Uvenco UK, which has not entered administration.

Immediately upon appointment of the joint administrators, the trading business and its assets were sold to subsidiaries of Montagu Group, a vending solutions provider. All 169 employees transferred across to the new owner upon completion of the sale.

Howard Smith, associate partner at KPMG and joint administrator, said: “The companies had experienced declining revenues over a prolonged period, significantly impacting cash flows. Following an accelerated sales process, we are delighted to have been able to safeguard all 169 jobs with this sale of the business and assets. We wish the new owners well in the future.”