* Coinstar Inc. Adds Fred Meyer To Its National Network; Portland,
Ore.-based Fred Meyer Now Home To Innovative Coin-Counting Machines
347 Words
2950 Characters
10/30/97
10:22
Business Wire
(Copyright (c) 1997, Business Wire)
* BELLEVUE, Wash.--(BUSINESS WIRE)--Oct. 30, 1997--Coinstar Inc. (NASDAQ:
CSTR) today announced an agreement with Portland, Ore.-based Fred Meyer Stores
Inc. to place its self-service coin counting machines in 33 Fred Meyer stores
in the greater Portland area.
Fred Meyer will be the 62nd retail chain to install the innovative
* Coinstar(R) machines and the first partner in the state of Oregon. With this
* agreement, Coinstar now operates machines in 26 states nationwide. Fred Meyer
joins a growing list of food merchandisers throughout the country and becomes
* the second mass- merchandiser to partner with Coinstar. Today's announcement
also includes machine installations at 9 Fred Meyer locations in Utah.
* "The Coinstar machines will be a valuable and sensible addition to the Fred
Meyer family," said Bob Batsch, vice president of Operations Support for Fred
* Meyer Stores. "The customer convenience offered by Coinstar fits well with
the one-stop-shopping experience offered by Fred Meyer."
"We're happy to be in the Portland market and to partner with Fred Meyer, a
well-respected name in the retail industry," said Jens Molbak, founder and CEO
* of Bellevue, Wash.-based Coinstar. "The Coinstar machine will provide
Portland-area shoppers the chance to put a little extra cash in their pockets
without all the trouble and hassle generally associated with unsorted coins."
* The Coinstar(R) machine accepts a consumer's stash of unsorted coins. The
machine then counts the coins at a rate of up to 600 a minute and then
provides the consumer with a voucher which can be exchanged for cash or
applied to in-store purchases at the checkstand.
* Coinstar Inc. develops, owns and operates a nationwide network of over 2,800
automated, self-service coin counting and processing machines that provide
consumers with a convenient means of converting loose coins into spendable
cash.
Fred Meyer is a leading regional retailer of a wide range of food and
general merchandise products. The company currently operates 271 stores in 19
states, 112 large one-stop-shopping stores in six Western states and 159
smaller specialty stores.
* Consumers can call 800/928-CASH or visit Coinstar on the internet at
* www.coinstar.com for the location of the nearest Coinstar machine.
* CONTACT: Coinstar, Inc.
Kirk Collamer, 425/943-8220
or
Fi.Comm
Cathy Corley, 206/467-6732
10:07 EST OCTOBER 30, 1997 |
