News
ACE Members to get first 3,700 ATMs as part of a strategic contract win between Cashbox PLC and Palmer & Harvey McLane (P&H)
25 January 2007
Cashbox PLC (AIM:CBOX), the independent ATM deployer and operator, announces that following a competitive selection process, it has been chosen as the recommended supplier of ATMs for Palmer & Harvey McLane (P&H), the UK's number one nationwide delivered wholesaler for both the independent and multiple retail trade with over 61,000 customers.
Cashbox will initially focus on providing the free ATM placement offer to P&H's 3,700 members of the ACE buying group.
Through its partnership agreements Cashbox now has over 29,000 sites where it can assess the viability of installing an ATM machine, many of those on an exclusive basis. The Company, which is purely focused on the UK market, carries out detailed research on each site before committing to installation to ensure that it meets the relevant criteria to achieve profitability.
The ATMs will be placed using Cashbox's Placement Model, whereby a convenience-fee ATM is placed with a retailer free of charge and replenished by them, eliminating the need for third party cash-handling costs. Each ATM is then treated as an individual entity, with Cashbox monitoring performance and ensuring that the retailer is fully trained and supported in its use.
Carl Thomas, Chief Executive of Cashbox PLC, said: "We are delighted to be working with such a prestigious and successful organisation as Palmer & Harvey McLane. In particular, I am very excited about the pace that P&H want to see the ACE members benefit from our programme. This contract win is further evidence that Cashbox is fast becoming the UK's leading Independent ATM provider of choice."
Clive Hildyard, Trading Manager, of ACE, commented: "Throughout the negotiation process, we have been extremely impressed with Cashbox's professionalism. The level of marketing and technical support that they offer, and the fact that this deal involves absolutely no financial risk to ACE members made Cashbox the obvious choice. We look forward to what I am sure will prove to be a successful relationship."
Notes to Editors
Cashbox plc
Cashbox is a leading independent ATM deployer (IAD) with an estate of over 1,000 ATMs in locations around the UK. Cashbox installs and operates an estate of ATMs, typically on five to seven year contracts, at sites throughout the UK where there is a demand for cash withdrawal services and where customers are willing to pay a convenience fee.
Cashbox was granted membership of LINK in March 2004, allowing Cashbox to incorporate its ATMs in the LINK network. Cashbox also has a Bank of England settlement account and became the first IAD in the UK to become completely compliant with the Triple DES security standard in June 2004.
The Company intends that the majority of new installations will use the Placement Model, whereby the ATM is purchased by Cashbox under lease hire, placed with the merchant and replenished by the merchant, eliminating the need for third party cash handling costs.
The Company listed on AIM in March 2006.
Palmer & Harvey McLane
The P&H Group is the UK's number one delivered wholesaler for both the independent and multiple retail trade with complete nationwide distribution facilities. Widely considered as the one-stop shop in retail, the service doesn't end at delivery alone - the P&H Group can provide a complete package to suit every business.
- 870 vehicles making 55,000 deliveries per week
- 61,000 customers rely on P&H
- The UK's 3rd largest private company
- 9,000 product lines
- 28% share of total Tobacco market (54% of the multiples)
- 14% share of total Confectionery market
- 28% share of total Ice Cream market
- 79% of multiple Off Licences are delivered by P&H
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