The Ascaso headquarters in Barcelona, Spain. Azkoyen Group press photo.
Spain-based multinational vending and payment technology company Azkoyen is acquiring family-owned Spanish espresso equipment company Ascaso for €17 million ($17.2 million, as of this writing).
The acquisition of Barcelona-based Ascaso represents Azkoyen’s first major play in the premium traditional manual and semi-automatic espresso segment, adding to a range of products and services already offered by Azkoyen Group brands in fully automatic vending and payment systems.
The Ascaso Big Dream espresso machine won a Best New Product Award at the Specialty Coffee Association World of Coffee event in 2018. Daily Coffee News photo by Lily Kubota.
In an announcement of the deal, Azkoyen Group Chairman Juan José Suárez said Azkoyen plans to leverage Ascaso’s expertise in the premium traditional machine segment for “very ambitious growth plans.”
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The acquisition of Ascaso comes just one month after Navarre-based Azkoyen Group named Darío Vicario Ramírez its new CEO and signaled aggressive growth plans in its three core business divisions: coffee and vending; payment technologies; and timekeeping and security.
Ascaso, meanwhile, recently made its first major splash in the United States market in late 2020 with the launch of Ascaso-USA, in partnership with Olympia, Washington-based coffee equipment supply company Espresso Parts.
The Ascaso i-Steel grinder. 2020 file photo courtesy of Ascaso.
In 2018, the company founded by Jesús Ascaso in 1962 won a Specialty Coffee Association Best New Product Award for its Big Dream espresso machine, featuring all stainless-steel interior components.
José Luis Ascaso, the son of Jesús Ascaso who transformed the business into a full-scale manufacturer of espresso machines in 1997 while exponentially growing the company’s Barcelona-based production capacity and product catalogue, will be joining the Azkoyen Group, according to the companies.
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Nick Brown
Nick Brown is the editor of Daily Coffee News by Roast Magazine.
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