Expanding on an already extensive relationship, ATM giant U.S. Business Group, Cardtonics, has been named the exclusive provider to all 7-Eleven Inc. stores in Canada and will soon serve the convenience store chain in the United States.
Cardtronics' new portfolio of 7-Eleven Canada-located ATMs begins at a machine count of 472. Cardtronics expects to complete deployment of new Cardtronics-owned ATMs for all 7-Elevens 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.
Cardtronics first entered the Canadian market with nearly 600 ATMs in late 2011 with its acquisition of Mr. Cash.
Based in Dallas, Texas, 7-Eleven operates franchises or licenses more than 9,100 7-Eleven stores in North America. When the company develops a site, the investment can range from $1 million to $2 million per store. A typical initial cash payment to 7-Eleven for a franchise is about $89,000.
from Western Investor June 2012
