Automatic_Merchandiser_February-March_2021 - 8

TOP NEWS
365 Retail Markets
receives fresh capital
investment
[ PRIVATE EQUITY ]

USAT announces
$55 million common
stock investment
USA Technologies Inc. has
sold 5,730,000 shares of
its common stock to certain
institutional investors
in a private placement.
Aggregate gross proceeds
were about $55 million,
before deducting fees,
based on the offering price
of $9.60 a share. The hightech payments company
reported that it will use
the net proceeds from
the offering for general
corporate purposes.
VendingMarketWatch.
com/21211780

western Ohio, southern
Indiana and a majority of
Kentucky., and increases its
operating assets to 2,300
micro markets, 30,000plus vending machines,
15,000 coffee and water
service locations, and over
60 cafeterias. The addition
of John Conti Coffee Co.,
an iconic roaster, adds a
new service outlet.
VendingMarketWatch.
com/21204648

Chowbotics

DoorDash buys
food robotics firm
Chowbotics
113974312 | Sureeporn Teerasatean | Dreamstime

MICRO MARKET LEADER 365
Retail Markets received a majority investment from Providence Equity
Partners, a Rhode Islandbased private equity firm.
The investment amount was
not disclosed. Joe Hessling,
founder and chief executive of
365, will continue to lead the company and
maintain an ownership stake.
Things to come
Sunrise Canteen Vending, a 365 Retail
Markets expert, provides micro markets
to workplaces throughout Texas' Golden
Crescent region. The operation is expanding
its coverage to public locations, starting
with beverage sales, thanks to 365's
PicoCooler, according to Sunrise GM
Hersey Williams. Check out the full story at
vendingmarketwatch.com/365-retail-markets.

8

Automatic Merchandiser * February/March 2021

Five Star acquires
Canteen's thirdlargest franchise
Canteen Vending's
largest franchise,
Chattanooga, TN-based
Five Star Food Service,
announced the acquisition
of an Owensboro, KYbased franchise group
comprised of four
operating companies,
including a coffee roaster
and distributor. Canteen
Service Co. of Owensboro,
Canteen Service Co. of
Kentuckiana, Derringer
Food Group and John Conti
Coffee Co., which operated
collectively as Canteen's
third largest franchise, join
the Five Star organization
in what is described as a
" transformative " deal.
The acquisition expands
Five Star's reach into

Delivery service leader
DoorDash is buying
Chowbotics, a Californiabased automated food
preparation company.
As part of the DoorDash
platform, Chowbotics
technology will be used to
help DoorDash merchants
expand menu offerings
and reach new customers
without investing in entirely
new stores.
The salad robotics
company was founded
in 2014 as businessto-business food
preparation service.
Its headline product is
Sally the Fresh Food
Robot, which functions
like a vending machine
to create custom salads,
bowls, cereals and snacks.
Sally enables ingredients
to be prepped right
where they are served.
VendingMarketWatch.
com/21210140

http://www.vendingmarketwatch.com/21204648 http://VendingMarkletWatch.com/21211780 http://VendingMarkletWatch.com/21210140 http://www.vendingmarketwatch.com/365-retail-markets

Automatic_Merchandiser_February-March_2021

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