COINSTAR COMPLETES SUGARLEAF ACQUISITION
BELLEVUE, WA - Coinstar finalized its purchase of American Coin Merchandising , dba Sugarloaf , and its parent company ACMI Holdings on July 7 for $235 million in cash. The purchase was funded through $310 million in debt financing (some of the loan went for general expenses and working capital). ACMI also owns Folz Vending (Oceanside, NY), one of the nation's leading bulk vending operations. "The acquisition and funding were completed as planned," Coinstar CEO Dave Cole has announced. "We are now moving forward with a more diversified business platform characterized by complementary product lines and broader distribution channels." During the second quarter of 2004, while the acquisition was in progress, Coinstar generated $47.8 million in revenues, an increase of $4.7 million over the same quarter last year. Combined, Coinstar and ACMI will have over 40,000 distribution points. The deal was originally announced on May 24.
GLOBAL VR TO LAUNCH NEXT PHASE OF TOURNAMENT PROMOTIONS
SAN JOSE, CA , Global VR president Milind Bharvirkhar announced that his company is moving forward with plans for online tournaments to be held this summer and fall to support multiple video products. The networked roster will include "EA Madden Football," shipping Aug. 16 with tournament capability this month, "Need for Speed Underground," shipping October with tournament capability the same month, and "EA Sports PGA Tour," which already supports tournament activity. EA Sports and GVR will send 800,000 e-mails to alert home players to the "Madden" game's coin-op debut. The $100,000 North American Championship for "Tour" takes place Nov. 12-14 at the Hard Rock Hotel & Casino, Las Vegas.
NSM ANNOUNCES RESTRUCTURINGCHICAGO , NSM Music sales and marketing vice-president Mike Jablonski has exited the company. Tony Lantz, operations vice-president, will assume Jablonski's duties until a permanent replacement is named. Additional appointments are expected "in the very near future," said officials. "This restructuring is the first step in a period of new investment and change required to bring NSM Music back to prominence in the U.S.," NSM managing director Barry Kirby said. "Tony Lantz is a very efficient guy who has been with the company for a long time. His technical know-how will be invaluable to us as we move forward with our new digital Ecast-powered 'Chameleon' jukebox." The "Chameleon" began testing in June and is now available, with early purchasers placing orders for additional units. Lantz can be reached by e-mail at NSMTonyL@aol.com or tel. (630) 285-9911, ext. 31.