SAN DIEGO, CA - (Marketwired - Jul 12, 2017) - Generation NEXT Franchise Brands (OTCQB: VEND) announced today that its robotic frozen yogurt vending franchise concept, Reis & Irvy's, began its global expansion with the completion of the brand's first international licensing agreement with the ItFroYo Group, which was formed by Itamar Goldman. The company's international launch is focused on a debut in Israel, which is considered to be one of the leading regions for significant developments and impacts within technology and innovation.
Earlier this year, Generation NEXT Franchise Brands announced the development and availability of international licensing opportunities for the Reis & Irvy's concept which was launched within the United States and Canada in April 2016. The high-tech robotic vending machines, which will dispense servings of frozen yogurt, ice creams and sorbets, topped with six delicious toppings in under 60 seconds, have seen tremendous response from the market. Since its debut, Reis & Irvy's has grown to over 175 franchisees across the U.S. and represent 725 pending robot installations. That market buzz has now expanded across the globe and is sparking interest and demand from entrepreneurs looking to become part of the newest innovation in on-demand vending robotics.
Itamar Goldman, together with a group of food service partners and professionals, have formed the ItFroYo Group, which will be Reis & Irvy's newest ambassadors to the Israeli marketplace. The group will also be at the helm of the brand's first introduction to global consumers. The group itself showcases extensive experience within the food service, ice cream and retail arenas and was immediately drawn to the potential that Reis & Irvy's could bring to its market. With many of the world's largest tech companies like IBM, Intel and Google now working directly with and within Israel, the group saw the technology of the Froyo Robots as a perfect showcase product, especially within a market that sees 67% of the population eating ice cream desserts once a week and ice cream sales growing by approximately 420% in the last decade. The Froyo Robot technology and premium product would seem to be the perfect fit for a region that has such high demand for frozen treats.
"Each and every day, I am an entrepreneur at heart and as such, I am always looking for the best opportunities in the market," said Goldman, whose first-year goal is to start a Reis & Irvy's footprint with 20 froyo robots across the region. "After seeing and discussing the vision of the Reis & Irvy's concept, we are very excited to partner with Generation NEXT Franchise Brands and to be the first international licensee of what we feel is one of those premiere groundbreaking opportunities. Our goal with ItFroYo is to make Reis & Irvy's the "Uber" of frozen yogurt within the Israeli market as quickly as possible."
The ItFroYo group will serve as exclusive licensees, distributors and operators of Froyo Robots within the Middle East / Israel territory for five years under the terms of the Reis & Irvy's licensing agreement. The agreement worth $3,637,500 to Generation NEXT Franchise Brands, states that the group will purchase the units within the 5-year term and will represent the frozen yogurt/ice cream robot technology within its respective territory using the Reis & Irvy's brand (www.reisandirvys.com).
The ItFroYo group will ambassador and position the brand for consumer awareness and expansion and will be supported by marketing, training, logistics and operations support from Generation NEXT Franchise Brands and the Reis & Irvy's corporate franchising team that will include:
A source for logistics
"ItFroYo have had their fingers on the pulse of technology, food service and most importantly retail ice cream and soft serve in Israel for over 20 years," said Nicholas Yates, Chairman and Founder of Generation NEXT Franchise Brands, parent company to the Reis & Irvy's brand. "They know the 'ins and outs' of consumer behaviors and trends and we couldn't ask for better ambassadors to position our brand for success in Israel."
For more information on Generation NEXT Franchise Brands or their family of brands, including Reis & Irvy's, 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 informational 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 the parent company of: 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 390 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.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are identified by words such as "believe," "anticipate," "propose," "expect," "intend," "plan," "will," "may," "estimates," variations of such words and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in our fillings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K for the year ended June 30, 2016, our subsequent Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated and the Company is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
Generation NEXT Franchise Brands
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