V-Auction press image.
A subsidiary of Germany-based logistics conglomerate Vollers Group has acquired the online coffee auction platform Sensible Development.
Vollers has rebranded the platform under the name V-Auction, combining its existing auction capabilities while promising to incorporate enhanced features based on Vollers’ multinational experience in green coffee logistics and warehousing.
Founded in the UK, Sensible Development was the provider of the Cup of Excellence coffee auction platform until mid 2022. The firm has also provided the platform for private high-end auctions in the specialty coffee industry such as Pride of Gesha (Ethiopia), Gems of Araku (India), El Injerto (Guatemala) and many others. The firm has been behind at least 37 high-end coffee auctions since the start of 2022.
The terms of the Vollers acquisition were not been disclosed. Vollers has been providing commodities logistics services for more than 90 years.
“At Vollers Group, we are not just acquiring a platform, we are investing in the future of digital coffee auctioning,” Vollers Group Owner Christian Vollers said in a message to Vollers clients late last month. “Our legacy in coffee, combined with our logistical expertise and commitment to innovation, positions us uniquely to drive positive change in the industry.”
Vollers Group said that the existing Sensible Development platform functionality will be “seamlessly integrated” into the new V-Auction platform.
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