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Cardtronics inks Canadian 7-Eleven deal

12 April 2012  |  1765 views  |  0 Source: Cardtronics

Cardtronics (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." 

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