SuzoHapp announced that it has completed the acquisition of the primary currency and cashless product lines of CoinCo, a world leader in the design and manufacturing of payment solutions for the vending industry, based in St. Louis, Missouri.
Founded in 1958, CoinCo led the way in product development, providing the market with a wide range of value-added payment solutions, including its well-recognized coin changers, bill acceptors, card readers and cashless technology. Some important new offerings will be added to the SuzoHapp portfolio, such as the Vantage VR6 note recycler and the iris line of cashless systems.
The strength of the CoinCo brand has led to significant success in the U.S. market. SuzoHapp officials say they hope to recreate that success in the international markets by leveraging its significant resources and global footprint, especially in Europe, where SuzoHapp has a thriving vending business.
Service in North America of the entire CoinCo product line will continue to be provided by the existing CoinCo service network, which will continue to be operated by Coin Acceptors Inc.
“This acquisition of the CoinCo product lines is an important one for SuzoHapp, allowing us to provide our vending customers a more complete, technology-driven global product offering,” said SuzoHapp CEO Drew Scielzo. “Under the leadership of Jack Thomas, CoinCo earned a strong reputation in the marketplace for delivering innovative and reliable payments solutions. We look forward to carrying on that legacy.”
As part of the acquisition, SuzoHapp has also hired key commercial, engineering and operational employees from CoinCo to provide support to all new and existing customers.
One of these key commercial employees is Ron Manne, SuzoHapp’s new vice president of sales and marketing for the CoinCo brand. “We are excited to become part of the SuzoHapp group and we look forward to contributing to the company’s future growth and continued success,” said Manne.
