SAN DIEGO, CA - (Marketwired - Jan 18, 2017) - Generation NEXT Franchise Brands (OTCQB: VEND) announced today that it has appointed San Antonio-based Lancer Corporation as their exclusive development partner for not only the recently launched Reis & Irvy's Froyo Robot, but for the future development of robotic vending concepts.
Lancer Corporation is a leading manufacturer and marketer of beverage dispensing systems and fountain vending technology. The company maintains sales and manufacturing facilities in the United States, Mexico, Australia, Belgium, and India. With 18 locations worldwide and over 1,500 global employees, Lancer manufactures a complete range of mechanically cooled and ice cooled soft drink dispensers, dispensing valves, carbonators, beer dispensing equipment and an extensive line of beverage dispensing parts and accessories.
Under the new partnership agreement with Generation NEXT, Lancer will provide engineering development services to further develop the company's Froyo Robots for commercialization, per a project plan that includes concept refinement, design, fabrication and testing / validation procedures. Those procedures and processes will include tasks necessary to secure required agency approval for certifications including, but not limited to NSF and UL, as well as appropriate testing, including reliability and field testing of the Reis & Irvy's units.
"In our quest to secure a development partner to evolve our technology, the objective was to find a company with a proven track record in taking to market the most reliable products, supported by the ultimate service and support network not just in the U.S. but around the globe," says Nick Yates, Chairman of Generation NEXT Franchise Brands. "We sought a company with an infrastructure to support both our franchising and licensing aspirations into the future and we couldn't be more pleased to partner with Lancer Corporation. They are forward thinking, cautious and have been completely dedicated to our project since it was introduced to them."
"We are very excited about our partnership with Generation NEXT. The market interest for this equipment is tremendous, and through our worldwide operations we will be able to support and distribute Generation NEXT's products globally," said Luis Alvarez, President of Lancer Corp.
Early last year, Generation NEXT launched the Reis & Irvy's Froyo Robot concept, a brand and technology originally licensed exclusively from South Carolina-based Robofusion, Inc. The ground-breaking vending machine serves two different flavors of frozen soft-serve desserts as well as a swirl option, all available with six toppings in under 60 seconds and showcases the world's first soft-serve, robotic vending system.
Since that time, Generation NEXT made the move to acquire Robofusion, Inc.'s intellectual property in the form of its patents and trademarks, allowing the company to explore new ways of leveraging the technology for the development of future concepts that will expand its business. The partnership with Lancer Corporation will now help extend Generation NEXT's in-house capabilities to include manufacturing, distribution, installation, training and a service network to support its customers both domestically and internationally.
The Reis & Irvy's Froyo Robots are scheduled to hit the market this year, with the first of the co-developed units rolling out in Q2 of 2017, followed by aggressive manufacturing and distribution in 2018.
For more information on the revolutionary Froyo Robots, visit the Reis & Irvy's website at reisandirvys.com. To learn more about Generation NEXT Franchise Brands or their family of brands, including Reis & Irvy's, Fresh Healthy Vending or 19 Degrees, please visit www.gennextbrands.com or call toll free 888-902-7558.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. No Reis & Irvy's franchises will be sold to any resident of any state until the offering has been exempted from the requirements of, or duly registered in and declared effective by, such state and the required FDD (if any) has been delivered to the prospective franchisee before the sale in compliance with applicable law. Currently, the following states in the United States regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you reside in one of these states, or even if you reside elsewhere, you may have certain rights under applicable franchise laws or regulations.
Generation NEXT Franchise Brands, based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol: VEND. Generation NEXT Franchise Brands is parent company to Fresh Healthy Vending LLC, the market's leading healthy-choice vending machine franchise, Reis and Irvy's, Inc., the world's first robotic frozen yogurt vending kiosk and 19 Degrees, a corporate-focused frozen yogurt kiosk brand. The Company hosts over 310 active franchisees throughout the United States, Canada, Puerto Rico and the Bahamas, and continually looks to partner with like-minded entrepreneurs who share its vision.
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, terms and availability of financing, 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," "proposes," "proposed," or "plans" to be uncertain and forward-looking. More detailed information on these and additional factors that could affect Generation NEXT's actual results are described in Generation NEXT's filings with the Securities and Exchange Commission, including its most recent Form 10-Q for the quarterly period ended September 30, 2016, and its annual report on Form 10-K for the fiscal year ended June 30, 2016. All forward-looking statements in this news release speak only as of the date of this news release and are based on Generation NEXT's current beliefs and expectations. Generation NEXT 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.
SOURCE Generation NEXT Franchise Brands
Generation NEXT Franchise Brands