Loomis has completed its acquisition of Pendum
Loomis has now completed its acquisition of the U.S. company Pendum’s cash handling business.
The deal, which was announced on March 31, will have Loomis taking over cash replenishment and management of around 43,000 ATMs across the United States.
The acquisition will already in 2011 boost Loomis’ U.S. operations to annual sales of around 65 million USD, the equivalent to approximately 420 million SEK or (39 million GBP)
The acquisition is the Group's largest acquisition and an essential part of Loomis' strategy to grow both organically and through acquisitions. The purchase price was approximately 100 million USD, equivalent to approximately 640 million SEK (or 60 million GBP).