Illinoiss Absolute Vending Acquires Rainbow Refreshments John Dee Ltd Brokers Deal

ARLINGTON HEIGHTS, IL -- Absolute Vending Services Inc. (Roselle, IL), a provider of vending, water and office coffee services, has entered into a definitive agreement to acquire Rainbow Refreshments Inc. (Wheeling, IL). The agreement between the two operators was brokered by John Dee Ltd.

Under terms of the agreement, Absolute will purchase Rainbow's existing vending, OCS and pure water businesses. Financial terms were not disclosed.

"We're excited about the future of our company and we obtained good value for the business, which is a tribute to our new colleagues," said Absolute Vending vice-president David Campbell. Absolute Vending was founded in 1978 by Jim and Mary Bollinger.

Mark Minaglia of Rainbow Refreshments Inc. added that both vending organizations have a combined history of more than 65 years and have excelled at developing strategies and services to meet the changing needs of clients. "We look forward to working with Absolute in the field," he said.

Mark and his mother, Bonnie Minaglia, are Rainbow's managing partners. The company was established in 1987 by the late Bob Minaglia.

John Dee Ltd. acted as the advisor for the Absolute-Rainbow transaction. Based in Arlington Heights, JDL is primarily a vending machine refurbisher and reseller. The company was founded in 1989 by John Dee, an industry veteran who held executive sales posts at Litton Microwave Industries, Bally Manufacturing and Lektro Vend during the 1970s and '80s. John and his son David, who previously worked in the banking industry, run the company as president and vice-president, respectively.

Information on mergers and acquisitions in the vending industry can be had by contacting David Dee at (312) 286-7702 or johndeeltd@yahoo.com.

PHOTO:From left are JDL's David Dee, Rainbow Refreshments' Mark Minaglia and Bonnie Minaglia, and Absolute Vending Services' Bobbi Campbell and Dave Campbell.