Brink’s Advances ATM Managed Services Strategy through Partnership with Sainsbury’s

Rhea-AI Summary

The Brink's Company (NYSE:BCO) has announced a long-term ATM managed services agreement with Sainsbury's. Through this partnership, NoteMachine, a Brink's Company, will take ownership and management of Sainsbury's ATM business, which includes approximately 1,370 ATMs in retail stores across the United Kingdom. NoteMachine will provide a comprehensive range of ATM managed services, including transaction processing, cash replenishment, maintenance, and more. The onboarding process is expected to be completed by May 2025.

This partnership aligns with Brink's mission to enhance banking accessibility and convenience. Sainsbury's CEO Simon Roberts expressed confidence in NoteMachine as the right partner, emphasizing the continued provision of free cash access for customers while simplifying their banking business and reducing costs.

Positive

• Long-term ATM managed services agreement with Sainsbury's, a major UK retailer
• Acquisition of approximately 1,370 ATMs across the UK
• Expansion of Brink's ATM managed services capabilities
• Potential for increased revenue and market presence in the UK

Negative

• None.

News Market Reaction

-0.34%

1 alert

-0.34% News Effect

On the day this news was published, BCO declined 0.34%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

RICHMOND, Va., Sept. 25, 2024 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO) today announced a long-term ATM managed services agreement with Sainsbury’s. Under the terms of the deal, NoteMachine, a Brink’s Company, will assume ownership and management of Sainsbury’s ATM business, which includes around 1,370 ATMs positioned in retail stores across the United Kingdom. The ATM network will be fully managed by NoteMachine, incorporating the full range of ATM managed services capabilities, including transaction processing, cash replenishment, maintenance, engineering, monitoring, parts supply and hardware refurbishment. The onboarding is expected to be completed by May 2025.

Mark Eubanks, President and CEO of Brink’s said: “Our partnership with Sainsbury’s further validates our capabilities in ATM managed services. This agreement aligns perfectly with our mission to make banking easier, more convenient and accessible for all. We are excited to be working with Sainsbury’s and we look forward to building on the strengths of both companies as we continue to innovate and enhance the way customers access financial services.”

Simon Roberts, Chief Executive Officer of Sainsbury’s, said: “We are really pleased that we can keep offering our customers free access to cash at all of our existing locations while also simplifying our banking business and reducing our costs. We’re confident that NoteMachine is the right partner for us and our customers.”

About The Brink’s Company
The Brink’s Company (NYSE:BCO), a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our network of operations in 52 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com or call 804-289-9709.

About Sainsbury’s
Offering delicious great quality food at competitive prices has been at the heart of what we do since John James and Mary Ann Sainsbury opened our first store in 1869. Today, inspiring and delighting our customers with tasty food remains our priority and our purpose is clear – we make good food joyful, accessible and affordable for everyone, every day. 

Our focus on great value food and convenient shopping, whether in-store or online is supported by our brands – Argos, Nectar, Tu Clothing, Habitat, Sainsbury’s Bank and Smart Charge. Sainsbury’s has almost 600 supermarkets and over 800 convenience stores. Argos is a leading digital retailer and is the third most visited retail website in the UK, with over 70 per cent of its sales starting online. Argos is conveniently available for customers to collect from hundreds of Sainsbury’s stores. Digital and technology enables us to adapt as customers shop differently and our profitable, fast-growing online channels offer customers quick and convenient delivery and collection capability. 

Sainsbury’s Bank
Sainsbury's Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury's Bank plc is covered by the Financial Services Compensation Scheme (FSCS).

Contact: Investor Relations 804.289.9709	BRINK’S CORPORATE The Brink’s Company 1801 Bayberry Court Richmond, VA 23226-8100 USA

FAQ

What is the new partnership between Brink's and Sainsbury's for ATM services?

Brink's has entered a long-term ATM managed services agreement with Sainsbury's, where NoteMachine (a Brink's Company) will take ownership and management of Sainsbury's ATM business, including about 1,370 ATMs across the UK.

How many ATMs will Brink's manage through the Sainsbury's partnership?

Brink's, through its subsidiary NoteMachine, will manage approximately 1,370 ATMs located in Sainsbury's retail stores across the United Kingdom.

When is the Brink's-Sainsbury's ATM partnership expected to be fully implemented?

The onboarding process for the Brink's-Sainsbury's ATM partnership is expected to be completed by May 2025.

What services will Brink's provide for Sainsbury's ATMs?

Brink's will provide a full range of ATM managed services, including transaction processing, cash replenishment, maintenance, engineering, monitoring, parts supply, and hardware refurbishment.