HOUSTON, March 11, 2014 (GLOBE NEWSWIRE) -- Cardtronics, Inc. (Nasdaq:CATM) has expanded its relationship with Tedeschi Food Shops, a Rockland, Mass.-based convenience store company. The broadened agreement names Cardtronics the exclusive ATM services provider for Tedeschi Food Shops. Cardtronics is the world's largest retail ATM owner.
Growing a Nine-Year Relationship
This agreement builds on a nine-year relationship between Cardtronics and Tedeschi Food Shops, during which Cardtronics has provided ATM processing services for the convenience store chain. With this relationship expansion, Cardtronics will provide a complete equipment refresh, replacing ATMs operated by Tedeschi Food Shops and one other bank vendor with machines owned and operated by Cardtronics, as well as add 56 new locations – for a total of 186 brandable ATMs.Cardtronics' portfolio of ATMs at Tedeschi Food Shops is immediately available to banks and credit unions interested in elevating brand awareness and surcharge-free account access through Cardtronics' ATM branding programs. Cardtronics is North America's market leader in ATM branding for financial institutions and prepaid card programs seeking to extend their brands, as well as convenient and fee-free cash access for their cardholders. Across its Principal and Preferred Branding programs, card issuers have cumulatively branded a total of more than 20,000 Cardtronics-owned ATMs. Bob Tedeschi, executive vice president and treasurer, Tedeschi Food Shops, said: "We've elected to expand our relationship with Cardtronics and name them our exclusive ATM partner as a cost-effective way for us to manage the daily activity of our ATMs, as well as the cost of keeping a fleet up-to-date with compliance and other technology upgrades. Building on the long-term relationship we've enjoyed with Cardtronics is a smart way to provide a great experience for our customers and capitalize on marketing capabilities we did not previously possess." Rick Updyke, president of Cardtronics' North America Business Group, said: "Tedeschi Food Shops has found that partnering with Cardtronics to offer easy access to cash in their stores is a great way to drive traffic and boost merchandise sales. Deepening our relationship will help them enhance their customers' ATM experience in-store, while eliminating the need for them to keep up with maintenance and service concerns for those machines. At the same time, this expanded relationship opens up new branding opportunities for our financial institution clients in prime New England locations."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts