British supermarket group Sainsburys has said it sold its cash machine operation to NoteMachine, which is owned by Brinks.
The UK’s number-two retailer said it had sold the cash machine operation in a further move to simplify its banking business.
The news comes after the supermarket group said it had agreed to acquire 10 leasehold stores from home improvement retailer Homebase to convert into supermarkets.
It said the acquired stores were in key target locations and would grow its supermarket coverage across England, Northern Ireland and Scotland as it sought to continue its strong performance.
Banking Business
Sainsburys announced a phased withdrawal from its core banking business in January.
It subsequently announced in June that it had struck a deal to sell most of its banking operation to NatWest, though it retained its commission-income businesses, including insurance, travel money and its automated teller machines (ATMs), or cash machines.
The grocer said on Wednesday that it had sold the ATM business, comprising of 1,370 cash machines, to Brinks-owned NoteMachine, which is one of the UK’s biggest ATM operators.
The deal, expected to be complete in May 2025, will see all ATMs remaining open and in position at their existing sites, while Sainsburys and NoteMachine will share commission.
Neither Sainsburys nor NoteMachine disclosed the financial details of the deal.
In February, Sainsburys said it was seeking a further £1 billion of operating cost savings over the next three years to fuel investment in its core food offer.
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