Lewiston-based Casco Bay Vending has acquired two Maine-based competitors, Pine State Vending and Canteen of Maine, for an undisclosed sum, the company said Tuesday.

Pine State Vending is a division of Gardiner-based Pine State Trading Co. Canteen of Maine is a franchise of Canteen Corp. of Charlotte, North Carolina, with locations in Portland, Bangor and Lewiston.

Neither of the two family-owned businesses was actively looking to sell, according to a Casco Bay news release. However, all three Maine-based companies were approached in the summer of 2016 by an out-of-state company interested in buying them, according to Casco Bay President Ted Morton.

None of the vending firms accepted, but the incident sparked a discussion about how best to preserve the future of all three businesses and their employees, Morton said. It ultimately led to a deal in which Pine State and Canteen of Maine agreed to be acquired by Casco Bay, he said.

“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,” Morton said. “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 is an independently owned business that provides healthy snacks, beverages, food service and vending options to businesses in Androscoggin, York, Cumberland, Sagadahoc, Lincoln, Kennebec, Oxford and Franklin counties.

 


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