Fresh Healthy Vending Enters into Non-Binding Term Sheet to Acquire Micro-Markets Division from Corporate Refreshment Services, LLC
SAN DIEGO - February 24, 2014 - (BUSINESS WIRE) - Fresh Healthy Vending International, Inc. (OTC Markets:VEND), North America's leading healthy vending franchisor, announced today that it has entered into a non-binding term sheet for the acquisition of an integrated micro-market platform and all existing micro-market assets and operations from Corporate Refreshment Services, LLC (CRS). The assets purchase will include all micro-market operations and assets belonging to CRS including, but not limited to, all micro-market locations, inventories, accounts receivable, software, systems and intellectual property.
Upon closing of this proposed purchase, Fresh Healthy Vending plans to rapidly increase the number of company-owned micro-markets in the San Diego area. Additionally, the Company expects to begin offering the integrated micro-market platform to all existing and prospective franchisees.
Fresh Healthy Vending executives describe the soon to be Fresh Micro-Market as "a mini whole foods for the office break room." A micro-market is an unstaffed, self-checkout, mini food store that integrates seamlessly into an office space. Free to businesses that meet minimum qualifications, micro-markets are a great option for workplaces that want to:
- Provide a variety of healthy snack and meal options
- Aid in improving employee health
- Promote productivity
- Encourage decreased absenteeism
- Potentially decrease company insurance premiums over time.
Micro-Market Features include:
- Convenient cashless payment methods, including debit, credit and thumbprint
- Touchscreen technologies
- Employee User accounts
- Camera monitoring, with tiered levels of recording and monitoring based on security needs
- Secure transactions
- Flexible design, layout, and branding options
- Web-based reporting and monitoring
Completion of this proposed transaction is subject to various conditions including, without limitation, additional due diligence, board and regulatory approvals, and negotiating, preparing and entering into a definitive assets purchase and related agreements. No assurance can be given that this proposed transaction will close.
For more information on Fresh Healthy Vending, the franchise program, or to receive a free healthy vending machine in your school or business, visit www.freshvending.com or call toll free 888-902-7558.
About Fresh Healthy Vending
Fresh Healthy Vending, based in San Diego, California, is North America’s leading healthy vending franchisor. Fresh Healthy Vending pioneered the concept of vending machines stocked with tried-and-tested fresh, healthy snack options and capitalizes on a growing market of health conscious consumers. The company has appointed more than 205 franchisees throughout the United States, Canada, Puerto Rico and the Bahamas and is looking to partner with like-minded entrepreneurs who share its vision.
The company offers three different machines: The Healthy Vending Combo snack and drink machine, Healthy Vending Café that brews gourmet hot beverages in less than 40 seconds and the brand new Healthy Vending Touch-the only 46" 3D interactive touch screen vending machine.
The company has more than 2,300 machines installed in schools, universities, hospitals, community centers, military bases, airports, fitness facilities, YMCAs, libraries and many other types of locations.
Fresh Healthy Vending believes that it is currently the only vending company providing a comprehensive integrated business model that:
- Has an integrative focus on securing qualified locations for vending machine placement on behalf of franchisees
- Has an in-house products department which creates specialized menus specific to each location
- Has a corporate owned machine division to provide an independent revenue stream separate to franchise sales
- Provides franchisees with best practices obtained and enhanced by experience of directly operating machines and managing routes
- Delivers a one of a kind franchise coaching program to assist franchisees with developing their healthy vending business using the company’s Steps to Success Program
Fresh Healthy Vending’s stock is traded through the OTC Markets, Symbol: VEND.
For more information on Fresh Healthy Vending, the Franchise Program, or to receive a free healthy vending machine in your school or business, visit www.freshvending.com or call toll free 888-902-7558.
Cautionary note on forward-looking statements
Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that expectations are based upon reasonable assumptions, there can be no assurances that goals, results and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. In addition to statements, which explicitly describe risks and uncertainties, readers are urged to consider statements labeled with such terms as "believes," "belief," "expects," "intends," "feels, "anticipates," or "plans" to be uncertain and forward-looking. More detailed information on these and additional factors that could affect Fresh Healthy Vending's actual results are described in Fresh Healthy Vending's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K for the fiscal year ended June 30, 2013 and those referenced in its Form 10-Q filed for the quarterly period ended September 30, 2013. All forward-looking statements in this news release speak only as of the date of this news release and are based on Fresh Healthy Vending's current beliefs and expectations. Fresh Healthy Vending undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.