People's United Financial Unit Acquires Vend Lease Company - Quick Facts

(RTTNews) - People's United Bank, N.A., a subsidiary of People's United Financial, Inc. (PBCT), has acquired Vend Lease Company, a nationwide provider of equipment financing to suppliers and vendors primarily in the hospitality industry. Headquartered in Baltimore, MD, Vend Lease will become a division of the bank's operating subsidiary, LEAF Commercial Capital, Inc.

Jack Barnes, CEO of People's United Financial, said: "They share our client-centric approach, have a highly specialized skill-set, and a recognized brand in the markets they serve. The strength of our combined expertise will provide for an exceptional client experience, foster positive growth and be a valuable addition to our growing equipment finance business."