LEWISTON, MAINE— Casco Bay Vending has acquired Maine-based competitors Pine State Vending, a division of Pine State Trading Co, and Canteen of Maine in an amicable acquisition. Casco Bay Vending, based in Lewiston, Maine, assures employee retention with comparable or improved employee opportunities while keeping all companies Maine-based and managed, honoring long-held traditions for all.
“We are thrilled with the acquisition of these two outstanding companies,” says Casco Bay Vending President Ted Morton. “With the addition of the exceptional staff from Pine State Vending and Canteen of Maine who will be joining our team, we will truly be able to provide the highest quality service to our valued customers.”
Casco Bay Vending was founded in 2008 by Ted Morton and is a leader in offering healthy snack options, operating a full array of services including traditional snack and beverage machines, micro-marts, full service café operations, and more. With the acquisition, Casco Bay Vending now employs more than 120 people and serves customers from Orono to Kittery, Jay to Bar Harbor.
Canteen of Maine and Pine State Vending, both third-generation, family-owned businesses, were not actively looking to sell. However, after all three Maine-based companies were approached in the summer of 2016 by an out-of-state company interested in purchasing, Morton—who was not interested in selling Casco Bay Vending, let alone to an out-of-state company—approached Canteen of Maine and Pine State Vending about a potential purchase. After much discussion, both companies decided that it was time to “pass the torch” and that Morton and Casco Bay Vending would be the best fit to uphold their established values and honor their existing employees.
“It was important to all three companies that our employees be taken care of, and we all felt this could best be done by a Maine company,” said Morton.
These acquisitions will provide the infrastructure required to deliver truly outstanding snack, beverage, and fresh food service to the 2,000 customers that Casco Bay Vending serves. Equally important, the acquisition ensures that good paying jobs with career advancement stay right here in Maine.
