ERBB - American Green to acquire VendWeb smart vending machine supplier

American Green (ERBB -7.1%) signed a binding LOI to acquire VenWeb, the company that has been the supplier of American Green Xpress (AGX) vending machine with facial recognition and age 21+ ID verification which allows the purchase of age-restricted products. The LOI is already secured with a cash deposit; final agreement details will be announced with final board approval in early April. The addition of VenWeb also produces a synergy that allows American Green to increase revenue, productivity, and its customer base through VendWeb’s current clients all while reducing manufacturing costs.

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American Green to acquire VendWeb, smart vending machine supplier