NuCO2 Inc. acquires 1,100 bulk CO2 customers from Coca-Cola Enterprises
The acquisition is in line with NuCO2’s strategic plan to grow its business and to make selected purchases of bulk CO2 accounts that contribute to greater density at its existing distribution centers around the U.S.
06/07/05 NuCO2 Inc., the largest supplier in the U.S. of bulk CO2 systems and services for carbonating fountain beverages, announced the acquisition of approximately 1,100 bulk CO2 beverage customers of Coca-Cola Enterprises Inc. in the states of Illinois, Indiana, Kentucky and Ohio for $1.4 million.
"Today's acquisition is in line with our strategic plan to grow our business organically and to make selected purchases of bulk CO2 accounts that contribute to greater density at our existing distribution centers around the nation," said Michael E. DeDomenico, Chairman and CEO of NuCO2. "We are pleased with our progress in identifying attractive 'tuck-in' acquisitions and expect this component of our strategy will continue to complement our growth."
NuCO2 Inc. is the leading and only national provider of bulk CO2 products and services to the U.S. fountain beverage industry. With service locations within reach of virtually all of the fountain beverage users in the Continental U.S., NuCO2's experienced professionals comprise the largest network of sales and support specialists in the industry serving national restaurant chains, convenience stores, theme parks and sports and entertainment complexes, among others. NuCO2's revenues are largely derived from the installation, maintenance and rental of bulk CO2 systems and delivery of beverage grade CO2, which are increasingly replacing high pressure CO2, until now the traditional method for carbonating fountain beverages. The technology offers consistent quality, greater ease of operation, and heightened efficiency and safety utilizing permanently installed on-site cryogenic storage tanks. NuCO2 provides systems and services that allow its customers to spend more time serving their customers.
