Coinstar Inc. Begins Major Installation WithVons; Southern California Grocer To Offer Self-Service Coin Counting Machines
In More Than 250 Supermarkets
March 19, 1998 01:17 PM
BELLEVUE, Wash.--(BUSINESS WIRE)--March 19, 1998--Coinstar Inc. CSTR today announced it has begun the installation of more
than 250 of its self-service coin counting machines in Vons locations throughout Southern California. The expansion follows a successful
pilot of 18 Vons supermarkets in Las Vegas. Forty-seven San Diego Vons locations will be the first to receive the additional machines,
followed by Bakersfield, Fresno, Los Angeles and Santa Barbara. "We see the Coinstar expansion at Vons as a great way to offer our
customers the best possible shopping experience," said Brian Dowling, director of public affairs for Vons. "We're looking forward to a great
partnership with Coinstar." Vons, a wholly owned subsidiary of Safeway Inc., is one of the largest supermarket chains in Southern
California. Vons operates more than 320 stores throughout California and Nevada under the names Vons and Pavilions. "This agreed
expansion with Vons is significant for Coinstar," said Jens Molbak, president and CEO of Coinstar Inc. "The expansion increases our
penetration into Los Angeles and San Diego as well as opening three new markets for us -- Fresno, Bakersfield and Santa Barbara. It will
allow more Southern Californians to eliminate the hassle of converting loose coins into cash. The Coinstar machine is a perfect fit for Vons
highly progressive approach to its customers." The company also announced that it has signed a contract with Safeway Inc. to install
Coinstar machines in its Pak'n Save division. These installations are currently underway throughout Northern California. The Coinstar
machine accepts a consumer's stash of unsorted coins. The machine counts the coins at a rate of up to 600 per minute and then provides the
consumer with a voucher which can be exchanged for cash or applied to in-store purchases at the checkstand. A small fee is deducted from
the total amount of the transaction. Coinstar Inc. develops, owns and operates a nationwide network of more than 3,400 automated,
self-service coin counting and processing machines that provide consumers with a convenient means of converting loose coins into
spendable cash. Consumers can call 1-800-928-CASH or visit Coinstar on the internet at coinstar.com for the location of the
nearest Coinstar machine.
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