Generation NEXT Franchise Brands Reports Material Definitive Agreement With Canteen In Recent Filing
SAN DIEGO, CA, Aug. 24, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Generation NEXT Franchise Brands revealed in a recent 8K filing with the U.S. Securities and Exchange Commission (SEC) that the company has entered into a Material Definitive Agreement with Canteen, a division of Compass Group USA, Inc. (“Canteen”) in the form of an Exclusive Location Partnership Agreement.
According to the regulatory filing, the Agreement provides that Canteen will provide location procurement services for the placement of Generation NEXT Franchise Brands’ Reis & Irvy’s vending robots within locations that fall in Canteen’s core businesses.
The agreement provides for Canteen to receive specific referral fees based on the number of locations procured as well as provisions for termination.
Generation Next Franchise Brands, Inc. (OTCQB: VEND) is the developer of the world's first fully-automated robotic frozen dessert vending kiosk designed to disrupt brick-and-mortar competitors. Reis & Irvy’s unattended robots eliminate the need for costly rents and employees; significantly reduce food safety concerns; and are capable of operating 24-hours a day.
Reis & Irvy’s-branded signature robot characters of the same name can dispense servings of frozen yogurt, ice cream, gelato and sorbet topped with a selection of six delicious toppings in under 60 seconds. With self-checkout touch screen ordering and payment options, video animation, music and delicious frozen dessert provided exclusively by Dannon, robot vendors meet consumers’ demand for immediate convenience, entertainment and a superior quality product - be it in shopping malls, medical centers and any other high-traffic area.
For more information, visit the Reis & Irvy’s website at www.reisandirvys.com or call Toll-Free (888) 902-7558.
About Generation NEXT Franchise Brands, Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol OTCBB:VEND. Generation NEXT Franchise Brands, Inc. is parent company to Reis and Irvy's, Inc. and Generation NEXT Vending Robots.
About Reis & Irvy's, Inc.
Reis & Irvy's, Inc. is a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. (VEND). Launched in early 2016, the revolutionary Reis & Irvy's Vending Robot serves seven different flavors of frozen yogurt, ice cream, sorbets and gelatos, a choice of up to six custom toppings and to customers within 60 seconds or less at the point of sale. The unique franchise opportunity has since established itself as a high-demand product and currently showcases a franchise network both domestically as well as internationally.