Five Star Completes 9 Acquisitions In 2017

Thursday, February 8, 2018

In 2017, Five Star set out to have the best year in the company’s 24-year history. While a few goals were left unmet, by many measures, last year could be considered the company’s greatest, said Five Star officials. Highlights include continued top and bottom line revenue growth which allowed for investments in technology, new service lines, charitable giving, and acquisitions. 

Five Star experienced an unprecedented year in terms of growth (40 percent) in micro markets. The year started with a burst of excitement by celebrating the opening of the 600th micro market in January. Ten months later, the company had opened its 750th market and has opened an additional 90 stores since. That’s nearly 250 markets in the past 12 months. 

A visit from close friends of Five Star, the Richardson’s (Jimmy, Jason, and Cole), armed with an idea for a micro market promotion to launch Pierre’s new line of sandwiches with a payoff of donating funds from sales to feed hungry kids planted the seed for the formation of a 501(c)(3) charity, Feeding the Future, Inc. The foundation went on to donate over $30,000 to Chattanooga’s local food bank and plans to make on-going donations to fight childhood hunger across its service footprint funded by company profits and other fundraising initiatives.  

Early in the year an acquisition allowed for an expansion of water service capabilities to include 5-gallon jug spring water. The move completed the company’s service portfolio as a one-stop-shop for workplace convenience services. Five Star offers its private labeled spring water in Chattanooga and is poised to launch in other regions. 

Five Star realized the opportunity to partner with hotels to help them more efficiently manage their lobby pantry markets. Via a partnership with Supply Wizards an online ordering platform was launched offering two-day delivery and inventory management for local hotel partners. Like 5-gallon water service, hotel pantry management will soon become available to more metro areas. 

Five Star retrofitted over 9,000 vending machines with USA Technologies’ ePort Interactive card readers. The deployment allowed Five Star to actively engage the consumer at the point of purchase, resulting in a lift in promoted products, cashless and mobile wallet transactions. 

In all, Five Star has completed nine acquisitions since last January. The focus of most was to bolster base business across all lines and provide a healthy opportunity for operational efficiencies and same store sales growth. All acquisitions were considered “tuck-ins” or inside Five Star’s existing Canteen franchise service area. 

All or parts of the following companies were purchased by Five Star: Southern Coffee Service (Chattanooga); JBA/Manda Lee Vending (Sevierville); River City Vending (Chattanooga); Middle Georgia Vending (Macon, Ga.); anonymous operator (Knoxville); Blue Ridge Spring Water (Chattanooga); Old Fashion Foods (Rome, Ga.); Preferred Vending (Cherry Log, Ga.); and Blue Ridge Spring Water (Knoxville). 


Martin Pierce Selected 2018 Mid-South Super Lawyer

Chattanooga Chamber Calendar Of Events Nov. 19-30

Unemployment In Tennessee Continues Near All-Time Historic Low


Attorney Martin L. Pierce, a Certified Estate Planning Specialist with Pierce & Huisman, PLLC in Chattanooga, has again been selected in 2018 for inclusion as a Mid-South Super Lawyer in ... (click for more)

Nov. 20, Red Bank/Signal Mountain Chamber Council Meeting 11:30 a.m. to 1 p.m. Red Bank Community Center: Tom Weathers Dr., behind Erlanger Speaker: Juan Alicea, Credit Card Skimming ... (click for more)

Tennessee's jobless rate in October was still near historic lows, despite a slight uptick. October’s seasonally adjusted unemployment rate for October was 3.7 percent, 0.1 of a percentage ... (click for more)


Business

Martin Pierce Selected 2018 Mid-South Super Lawyer

Attorney Martin L. Pierce, a Certified Estate Planning Specialist with Pierce & Huisman, PLLC in Chattanooga, has again been selected in 2018 for inclusion as a Mid-South Super Lawyer in the areas of Estate Planning and Probate. Each year, no more than five percent of the lawyers in the mid-south states are selected to receive the honor of a Super Lawyer. To qualify, the ... (click for more)

Chattanooga Chamber Calendar Of Events Nov. 19-30

Nov. 20, Red Bank/Signal Mountain Chamber Council Meeting 11:30 a.m. to 1 p.m. Red Bank Community Center: Tom Weathers Dr., behind Erlanger Speaker: Juan Alicea, Credit Card Skimming at Gas Stations & Crypto Currency $12 Nov . 27, East Brainerd Chamber Council Meeting 11:30 a.m. to 1 p.m. Car Barn: 6721 Heritage Business Ct. Speaker: Dionne Jennings, ... (click for more)

Breaking News

Riverbend Festival Is Expected To Be Trimmed To 4-5 Days In 2019

The Riverbend Festival is expected to be trimmed to four or five days in 2019, according to several sources. The popular festival in early June centered at Ross's Landing Park on the riverfront has long started on a Friday and continued the next week until the grand finale on Saturday night. Chip Baker, executive director of Friends of the Festival that operates the event, ... (click for more)

Tennessee Supreme Court Sets 6 Execution Dates Including Lee Hall, Convicted Of 1991 Hamilton County Murder

The Tennessee Supreme Court issued six execution dates for 2019 and 2020 on Friday. One was for Lee Hall, convicted of the 1991 murder of Traci Crozier in Hamilton County. All of the defendants had previous execution dates set, which were stayed for pending litigation. The Court set an execution date of May 16, 2019, for Donnie Edward Johnson. Johnson was convicted in 1985 of ... (click for more)

Opinion

Bring Jeff Styles Back Now That His Case Was Dismissed

Now that prosecutors have dropped charges against Jeff Styles — and he's not been found guilty by a jury of his peers — I hope Bill Lockhart and WGOW will return him to the station. I'm believe his listeners will welcome him back with open arms. After one has been through a ringer like this, I'm not sure how you get your life back unless a good guy like Mr. Lockhart steps up ... (click for more)

Roy Exum: When Coach Mike Gundy Went Off

Back in late September of 2007, a gutsy Oklahoma State football team had just won a wild 49-46 slugfest against previously unbeaten Texas Tech in Stillwater. In the loser’s locker room, this after OSU’s Zac Peterson drilled a 54-yard TD pass in the waning minute to come from behind, the soon-to-be legend Mike Leach tore his Red Raiders apart. I mean, the man with the lifelong obsession ... (click for more)