Five Star Food Service announced the acquisition of the Canteen franchise, Franks Vending, a vending machine and micro market operator in Pulaski, Tennessee. The acquisition will expand Five Star's presence into the southern Middle Tennessee area.
The territory expansion acquisition, situated immediately west of Five Star's existing Fayetteville, Tennessee, geography, presents growth opportunities for the company – with Five Star's current footprint already bordering the newly acquired territory on the south, north and east.
Franks Vending Service was founded in 1946 by E.W. Franks, the father of the late Bobby Franks who took over in 1982. Franks Vending became a Canteen franchise in 2003. Following the recent passing of Bobby Franks, the Franks family and Five Star were committed to completing the already ongoing acquisition in honor of Bobby's legacy, according to the announcement.
The Franks family's involvement in the beverage industry extends beyond vending as they also own Coca-Cola Bottling Works in Pulaski. Coca-Cola Bottling Works will continue to be operated independently by the family, while Five Star takes over the operations of Franks Vending.
According to the announcement, David Franks and Debbie (Franks) Gowan, the children of Bobby Franks, have been instrumental in running the vending business and will continue to play an essential role during the transition period. With the synergies between the two companies, Five Star aims to further elevate its service offerings, expand its product portfolio, and continue providing value to customers in the Middle Tennessee region.
Five Star's CEO, Richard Kennedy, said in the announcement: "We are excited to welcome Franks Vending into our family. This acquisition aligns perfectly with our growth strategy and represents a fantastic opportunity to expand our reach in the Middle Tennessee market. We look forward to working alongside the Franks family and building upon the strong foundation and legacy they have established."
Five Star Food Service, headquartered in Chattanooga, Tennessee, is a premier away-from-home food and beverage retail solutions provider for employers and other commercial, institutional, and educational locations. Five Star is an industry leader in micro markets, full-line vending, pantry, coffee and water services, full-service dining, catering, fresh food production, coffee roasting, secured delivery, and sustainable products serving nine states including Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, Ohio, and Tennessee. Founded in 1993, Five Star has grown to one of the largest privately held convenience services operators in the United States and is the largest franchise of Canteen, a Compass Group company.
