FTC requires 365 Retail Markets to divest Three Square Market for Cantaloupe deal
Updated
Updated · MarketWatch · May 1
FTC requires 365 Retail Markets to divest Three Square Market for Cantaloupe deal
10 articles · Updated · MarketWatch · May 1
The condition clears the $848 million acquisition, with Three Square Market to be sold to Seaga Manufacturing and closing expected on or around 8 May, Cantaloupe said.
The FTC said combining the companies would harm competition in micromarket kiosks, potentially raising prices and lowering quality for workplace food buyers.
Its proposed consent order also installs a compliance monitor and bars 365 Retail from micromarket kiosk acquisitions without prior FTC notice for 10 years.
After forcing this sale, how will the FTC police 'ecosystem power' in other tech-driven M&A deals?
With its new owner, what is the future of Three Square Market’s controversial employee microchip payment technology?
Can one divestiture truly prevent a 'closed garden' in the rapidly consolidating unattended retail market?