Cardtronics and 7-Eleven ATM Relationship Finds New Frontier in Canada
HOUSTON, April 12, 2012 (GLOBE NEWSWIRE) -- Cardtronics (CATM) , Inc. (Nasdaq:CATM), the world's largest retail ATM owner, today announced its Canadian subsidiary, Cardtronics Canada, Ltd., has been named the exclusive provider of ATM services to all 7-Eleven ® convenience stores in Canada. Expanding on an already extensive relationship, Cardtronics will soon serve the world's largest convenience store chain in both the United States and Canada.
Cardtronics' new portfolio of 7-Eleven Canada-located ATMs begins at a machine count of 472, includes expansion rights providing potential for growth and results in Cardtronics serving the world's largest convenience store chain on both sides of the U.S.-Canadian border, including thousands of 7-Eleven stores in the United States. Cardtronics expects to complete deployment of new Cardtronics-owned ATMs for 7-Eleven in Canada this summer.
"7-Eleven has the largest ATM network of any retailer in the United States, with Cardtronics providing ATM services to the vast majority of 7-Eleven ATMs," said Rick Updyke, president, U.S. Business Group, Cardtronics. "The opportunity to grow our long-standing relationship internationally into Canada speaks to its mutually beneficial nature and the ability of Cardtronics ATMs to help attract customers to 7-Eleven stores."
Cardtronics first entered the Canadian marketplace with nearly 600 ATMs in late 2011 with its acquisition of Mr. Cash . Including its new portfolio of 7-Eleven Canada-located ATMs, the company's total ATM count in Canada has crossed the 1,000-machine milestone.
"The international expansion of our 7-Eleven relationship is a prime example of what Cardtronics' entry into Canada was all about," said Mike Clinard, president, Global Services, Cardtronics. "By acquiring Mr. Cash in 2011, Cardtronics established a strategic foothold in Canada and a platform to better serve our existing clients operating in both the United States and Canada. And beyond introducing our proven business model into Canada, the 7-Eleven expansion represents a swift return on Cardtronics' Mr. Cash investment."
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates franchises or licenses more than 9,100 7-Eleven® stores in North America. Globally, 7-Eleven has approximately 45,600 stores in 16 countries. During 2010, 7-Eleven stores worldwide generated total sales close to $63 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine's 2011 list of Top Franchises for the Money; #4 spot on Entrepreneur magazine's Franchise 500 list for 2009, #3 in Forbes magazine's Top 20 Franchises to Start, and #2 in Franchise Times Top 200 Franchise Companies. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year honor from PL Buyer because of the company's private-label brand initiative. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com .
Making ATM cash access convenient where people shop, work and live their lives, Cardtronics is at the convergence of retailers, financial institutions, prepaid card programs and the customers they share. Cardtronics owns/operates more than 52,900 retail ATMs in U.S. and international locales. Whether Cardtronics is driving foot traffic for America's most relevant retailers, enhancing ATM brand presence for card issuers or expanding card holders' surcharge-free cash access on the local, national or global scene, Cardtronics is convenient access to cash, when and where consumers need it. Cardtronics is where cash meets commerce.
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Source: Cardtronics, Inc. 2012 GlobeNewswire, Inc.