National vending machine operating company Canteen has recently acquired Janesville-WI based Central Vending Co. from owner Robert (Bob) Yeomans for an undisclosed sum.
"I needed to retire," Yeomans told VendingMarketWatch about his decision to sell. It was time for Central Vending to upgrade some of its technology and launch into micro markets, but Yeomans was unsure he was the right person for the job. "While we employed great people and had great customers, my age presented a challenge to recovering the needed investments in a reasonable period of time," shared Yeomans. "Selling to Canteen seemed the best option."
Yeoman's father started Central Vending Co. in 1950. Yeomans joined the family business in 1972 as a MBA graduate. The southeast Wisconsin vending and OCS locations the company served were predominantly blue collar at that time. Yeoman's saw the business through a transition that had him learning about the changing consumer taste profile and using software to meet the refreshment needs of a more diverse workforce population. It was a legacy of service that lasted for 65 years. As of Aug. 21, Canteen took over delivery to Central Vending's customers and retained six of its employees.
Marc Rosset, president and founder of Professional Vending Consultants, Inc. brokered the deal.
