Coinstar Inc. and Albertson's Announce Partnership; Self-Service Coin Counting Machines Installed In Boise, Houston, and New Orleans.
Today's announcement marks the first time Coinstar machines will be widely available at Albertson's stores. To celebrate, Albertson's and Coinstar are holding a special media event near Albertson's corporate headquarters in Boise, Idaho this morning.
"We are thrilled to announce our new partnership with Coinstar," said Gary Spiers, vice-president of Albertson's Inc. "In a few short years, Coinstar has proven itself an innovative leader in the self-service coin counting industry. We think our customers will enjoy the convenience and time-savings of turning their change into cash or grocery purchases."
Since the machines introduction in 1992, Coinstar has helped millions of Americans turn more than $1 billion in change into useful cash. In all, Coinstar has processed more than 109,000 tons of coins for more than 43 million customers.
"Coinstar couldn't be happier about our new partnership with Albertson's, one of the most respected companies in the supermarket industry," said Jens Molbak, CEO of Coinstar Inc. "We are extremely excited about the growth opportunities presented by this partnership. Today's announcement means we will be able to bring our service to new regions, as well as solidify our presence in existing markets."
Founded in 1939, by J.A. Albertson, Albertson's Inc. is one of the largest retail food and drug chains in the United States. Currently, the company owns and operates 985 stores in 25 states. However, a previously announced merger agreement with American Stores Company, parent company of Lucky, Acme, and Jewel, is expected to bring that number to 2,470 stores by years end. Combined, those stores will have estimated annual sales of $36 billion.
Coinstar Inc. develops, owns and operates a network of 5,200 self-service, coin counting machines. The machines, which provide consumers with a convenient means of converting loose change into cash, are located in leading supermarket chains in 38 states. Consumers can call 1-800-928-CASH, or visit http://www.coinstar.com for the location of the nearest Coinstar machine.
Photos can be downloaded from the Coinstar Website at: http://www.coinstar.com/news/photorel.html
This press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from the results identified or implied in any forward-looking statement discussed herein. Factors that could cause or contribute to such differences include, but are not limited to, the risks that are more fully described under the caption "Risk Factors" included in the most recent reports filed with the Securities and Exchange Commission by Coinstar Inc.
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 6, 1999|
|Previous Article:||Periphonics Receives Orders For $2.9 Million From IRS; Orders Include Latest Upgrades To VPS/is Platform To Support IRS TeleFile Project For...|
|Next Article:||Magellan Signs Definitive Agreement for Sale of European Hospitals.|