SNACK delivery and vending machine franchise Snack-in-the-Box Ltd (SITB) has successfully completed a management buyout with ownership moving from Joe & Leigh Lynam, who have retired, to Matthew O'Neil, Bill Owen and Mike Funston.

Bill Owen, a founder member of SITB, will remain as Managing Director. Mike Funston, who has been with the company for more than seven years, will continue as Operations Director, and Matthew O'Neil, who has been with SITB for over five years, will continue as Franchise Sales Director.

Bill comments: 'SITB has been threatening to bring to the market new opportunities for some time... now the circumstances are right, we are poised to pilot and bring to market some exciting opportunities within the next 12 months.'

Adds Mike: 'SITB is well known for its strong partnership and association with Cadbury Trebor Bassett. Other household names are looking to SITB to achieve a greater market share for their products through franchising. The team's vision is to pilot and bring these business concepts to market as business format franchises.'

Matt furthers: 'You can never underestimate the power of a brand. People feel very comfortable when purchasing a franchise that has the power and backing of a brand name. It gives them instant credibility and opens doors that may have previously been closed to a sole operator. We are looking forward to building and developing a multi-branded franchise network.'