The convenience store marketing company Royal Buying Group Inc. has agreed to recommend automated teller machine services from Cardtronics Inc. to its clients.
Royal, of Lisle, Ill., negotiates bulk purchasing contracts on behalf of nearly 6,000 convenience store operators, gas stations and truck stops in all 50 states.
Franco Turrinelli, an analyst with William Blair & Co., said the agreement, announced last week, could help Cardtronics counter the turmoil within the banking industry that has made it difficult for Cardtronics, of Houston, to sign new bank branding agreements.
"We view this recent announcement as one type of an agreement the company will be able to reach with large groups or associations to expand its national footprint and create a more attractive portfolio of ATM locations for future branding opportunities," Turrinelli said.
