US workplace food solutions company Legend Food Service has acquired vending firm Varsity Vending and Micro Markets, for an undisclosed sum.
Varsity Vending, based in Prince Frederick, Maryland, will now operate under the Legend Food’s umbrella and will be managed by its executive team. Legend Food stated that it intends to retain all Varsity’s MD operations and employees.
Founded in 1986 as Capital Food Service, Varsity Vending has since developed into a full-service workplace solutions firm. The business is claimed to be one of the first manufacturers in the area to offer micro markets to its customers.
The deal marks Legend Food’s seventh investment, with plans to make additional acquisitions this year.
“We are thrilled with the progress we have made in the Metropolitan DC region this year,” said Legend Food’s founder and CEO, Kyle Loughran. “The significant investment in the three companies we have acquired is resonating with our stakeholders.”
He continued: “Our customers, employees, and investors are seeing tremendous results that are exceeding our expectations. We are providing both our business and investment thesis and expect to expand our operations to additional markets soon.”
Following the acquisition, Varsity Vending’s customers will have access to Legend Food’s commissary offering of fresh food and corporate catering alternatives.
Earlier this year, Legend Food Service acquired two vending businesses, Vending Plus and Jel-Cap Vending.
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