SAN DIEGO, CA - (Marketwired - Sep 18, 2017) - Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) announced today that it has selected Flex, Ltd. as its exclusive manufacturing partner for not only the recently launched Reis & Irvy's Froyo Robot, but for the future development of disruptive robotic vending technologies.
Flex, Ltd. is the Sketch-to-Scale™ solutions provider that designs and builds Intelligent Products for a Connected World™. With approximately $24 billion in annual revenue and 200,000 professionals across 30 countries, Flex, Ltd. provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets. Throughout the world, Flex has provided manufacturing services for clients that include Redbox, Kodak, Microsoft, Amazon, Google, Nike, and Bose to name just a few.
Under the new manufacturing services and design services agreements with Generation NEXT, Flex, Ltd. will provide engineering and manufacturing services to bring to market the company's Froyo dispensing vending Robots. Utilizing the prototype units developed exclusively by Lancer Corporation and scheduled for certification and validation with both Underwriters Laboratories and the National Sanitation Foundation, the global manufacturer will be delivering an initial rollout schedule of 1,000 units of which 760 were pre-sold by June 30th, 2018 with the first units being ready for installation in November 2017.
"Flex has been working around the clock to ensure we meet our installation date targets. They are incredibly proactive, easy to work with and the culture at Flex represents everything we could hope for in choosing a partner for our patented robotic vending technology currently in place and the new technologies we will be developing next year," said Nick Yates, Chairman and Founder of Generation NEXT Franchise Brands. "Being included in a power portfolio with global brands such as Nike, Redbox, Amazon, Bose, Kodak and Microsoft is not only an honor for us, but a true realization that our brand and our product has reached a premiere tier in both growth and demand."
"Kiosks, robotics and smart, connected products are all key focus areas for Flex. By utilizing our Sketch-To-Scale® capabilities, we are helping Generation NEXT Franchise Brands integrate all of these technologies into one product, and bring the world's first robotic frozen yogurt vending kiosk to the marketplace," said LeJon Alden-Brown, Sr. Director of Business Development of Industrial & Emerging Industries at Flex. "We are very excited to be working with Generation NEXT Franchise Brands on this project. They are a very passionate company with positive energy in all levels of their organization, and an absolute pleasure to work with. We look forward to a long term partnership and are very pleased to have been chosen as their exclusive manufacturer and design partner."
Early last year, Generation NEXT launched the franchise concept Reis & Irvy's frozen yogurt robots, a brand acquired from Robofusion, Inc. Through the acquisition, Generation NEXT took ownership of all intellectual property including key utility and design patents that relate to the robotic vending technology. Specifically, US Patent No. 7,896,038, which covers a frozen confectionary vending machine and a method for vending frozen confectionary products, US Patent No. 8,989,893 covering a vending machine for assembling and delivering food and drink products and design patents US D643,861 and US D647,926 which cover a kiosk and vending machine for assembly of frozen confectionary products. In addition, the secured patents also include pending U.S. and international utility and design applications that relate to confectionary, entertainment and foodstuff dispensing.
Since then, Generation NEXT has presold over 760 Reis & Irvy's Froyo Robots to an eager and expanding network of over 185 franchisees across the United States and Canada, representing approximately $27.5M in future revenues. Additionally, the company recently announced the launch of its international licensing program and the addition of its first two international master license agreements within both Israel and Oman.
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.
Flex, Ltd. is a leading Sketch-to-Scale™ solutions company that designs and builds intelligent products for a connected world. With approximately 200,000 professionals across 30 countries and a promise to help the world Live smarter™, the company provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets. For more information, visit www.flextronics.com or follow Flex on Twitter @Flextronics.
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 filings 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
SOURCE Generation NEXT Franchise Brands, Inc.