Cash handler Suzohapp has announced its acquisition of the primary currency and cashless product lines of Coinco, a designer and manufacturer of payment solutions for the vending industry.
Based in Missouri and founded in 1958, Coinco provided the market with a wide range of value-added payment solutions, including its coin changers, bill acceptors, card readers and cashless technology. Some new offerings will be added to Suzohapp’s portfolio, such as the Vantage VR6 note recycler and the iris line of cashless systems.
Coinco’s brand has garnered significant success in the U.S. market and Suzohapp hopes to “recreate that success in the international markets by leveraging its significant resources and global footprint”.
“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 Drew Scielzo, Suzohapp CEO, “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, the cash handling company has also hired “key commercial, engineering and operational employees from Coinco” in order to provide support to all new and existing customers.
One of these new commercial employees is Ron Manne, who has been appointed Suzohapp’s new vice president of sales & 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.