STOUGHTON, MA -- Next Generation Vending LLC, one of the nation's largest regional vending companies, until this week, has divested its operations to nine different companies. Eight of the firms are Canteen franchises. The series of transactions were effective May 16. Terms were not disclosed.
Headquartered in Stoughton, MA, with branches throughout the Northeast, Next Generation Vending, itself a Canteen franchise, provided vending and office coffee services for thousands of clients. Founded in 2007, the company had rapidly grown and secured its foothold in the Northeast as a vending leader through a series of acquisitions.
The Massachusetts, Connecticut, Rhode Island and New York vending companies that have acquired its operations include Foley Coffee & Vending (Norwood, MA), A&B Vending (Canterbury, NH), Prestige Services (Clifton Park, NY) and American Food & Vending (Liverpool, NY).
A map at Next Generation's homepage directs clients to the new vending companies serving its locations in each region.
In January 2011, Next Generation sold its foodservice division to New York's Lessing's, a foodservice and hospitality company, to focus exclusively on vending. | SEE STORY
H.I.G. Capital, a Miami-based private-equity firm, acquired Next Generation Vending in August 2011. Next Generation's chief executive David Mac Isaac and chief operating officer Joe Rogan remained in charge. The company's management reportedly retained a "sizeable" equity stake in the business. | SEE STORY