Thursday, April 23, 2015, 6:00 am CDT CHICAGO--John Dee Ltd, a broker of mergers/acquisitions & refurbisher of vending machines in Arlington Heights, IL, announced that Absolute Vending Services Inc., a provider of vending, water, and office coffee supplies in Roselle, IL, has entered into a definitive agreement to acquire the business of Rainbow Refreshments Inc., in Wheeling, IL. Under the terms of the agreement, Absolute will acquire Rainbow's existing Vending, OCS, and Water business.
“Were excited about the future of our company and we obtained good value for the business, which is a tribute to our new colleagues. We have an outstanding business at Absolute with a talented team,” said David Campbell, who is Vice President of the company. Bobbi Campbell is President of Absolute Vending Services Inc., which was established in 1978 with Jim and Mary Bollinger and is a NAMA member.
Mark Minaglia of Rainbow Refreshments Inc., stated, “Both Absolute and Rainbow have a rich history with over 65 years combined in the industry developing innovative strategies to meet customer needs. “We look forward to working with Absolute in the field." Bonnie and Mark Minaglia are managing partners of Rainbow Refreshments, which was established in 1987 with Bob Minaglia and is a former NAMA member.
John Dee Ltd acted as broker and advisor in connection with the acquisition. John & David Dee are managing partners of John Dee Ltd., which was established in 1989.
