Shred-it * announced the acquisition of Brink’s Document Destruction. This was the shredding division of Brink’s Inc. Shred-it said the acquisition would help with their customer density in Boston, Chicago, Dallas and New York. Financial details were not released.
This marks the unceremonious end to Brinks attempt to enter the shredding service market. Their goal was to leverage their name in security for new businesses. The market was much harder to penetrate than they had anticipated. They opened a few locations but never earned significant market share.
I think this is a classic example of a branding problem. Brinks is know for their armored cars. They have great mind share in that market. To enter a new market they should have considered a new brand for the shredding service. This didn’t end as they hoped but it could have been even worse if they were successful and Brinks became associated with shredding and their armored car business dried up.