The Adventure Starts Now: Nightfood Holdings Inc. Embarks on Exciting New Journey with Recent Acquisition

Rhea-AI Summary

Nightfood Holdings (OTCQB: NGTF) has acquired Future Hospitality Ventures, a California-based company specializing in AI-enabled robotic solutions for the hospitality and food service sectors. This acquisition aligns with Nightfood's strategy to leverage trends in these markets. Newly-appointed CEO Sonny Wang highlights the integration of Future Hospitality's technology to enhance efficiency and cost savings. Additionally, Nightfood's subsidiary is advancing its sleep-friendly nighttime snacks, especially through recent direct-to-consumer launches. Future acquisitions are planned, with further details expected soon.

Positive

• Acquisition of Future Hospitality Ventures aligns with market trends.
• Future Hospitality brings valuable distribution contracts.
• AI-enabled robotic solutions promise improved efficiencies and cost savings.
• Focus on customer segments with multiple locations for exponential benefits.
• Recent successful direct-to-consumer launch of sleep-friendly Nightfood cookies.
• Plans for future acquisitions with substantial assets and revenue.
• Newly appointed CEO, Sonny Wang, emphasizes innovation and growth.

Negative

• Potential risks associated with integrating new technology into existing operations.
• Dependence on successful scaling of new products and services.
• Future acquisitions yet to be disclosed; uncertainty around financial impact.
• Market reaction to upcoming acquisitions and their terms could be uncertain.

NEW YORK, June 18, 2024 (GLOBE NEWSWIRE) -- via IBN -- Nightfood Holdings Inc. (“Nightfood”) (OTCQB: NGTF), an acquisition and development holding company, is thrilled to announce its recent acquisition of Future Hospitality Ventures Holdings, Inc. (“Future Hospitality”), a California-based provider of robotics and automation solutions to the hospitality and food service industries.

The vision behind Nightfood is to capitalize on explosive trends within the hospitality, food service and consumer packaged goods (CPG) markets.

Future Hospitality launched in California with valuable distribution contracts, months ahead of California’s minimum wage increase that is currently making national headlines. Future Hospitality provides artificial intelligence (AI) enabled robotic solutions that deliver improved efficiencies, cost savings, and consumer experience in hospitality and food service.

"Incorporating Future Hospitality’s advanced AI-enabled robotic solutions positions us at the forefront of innovation in the hospitality sector at this critical point in time," said Sonny Wang, the newly appointed chief executive officer of Nightfood. "We believe our success in this area can open up new avenues for growth and efficiency across our portfolio. Our customers can benefit from plug-and-play, AI-enabled automation which integrates easily and seamlessly into traditional restaurants, hotels, health care facilities, school cafeterias and other food service operations. There are exponential benefits for customers with a portfolio of locations, which is the market segment we are initially targeting.”

In addition to Future Hospitality, Nightfood’s subsidiary, Nightfood, Inc., is pioneering the exciting category of sleep-friendly nighttime snacks. The recent direct-to-consumer launch of the sleep-friendly Nightfood cookies has shown exciting promise and management believes the opportunity exists to scale revenues rapidly across the second half of 2024.

Nightfood is in the process of acquiring additional operating companies in related fields with substantial assets and revenue. Nightfood expects to disclose details of these transactions in the coming weeks.

Nightfood invites investors, partners and consumers to join us on this exciting journey as we endeavor to shape the future for the benefit of our shareholders.

For more information about Nightfood and its latest initiatives, please visit www.nightfood.com or contact our media relations team at media@nightfood.com.

About Nightfood Holdings Inc.

Nightfood Holdings Inc. (OTCQB: NGTF) is a forward-thinking holding company dedicated to identifying and capitalizing on explosive market trends within the hospitality, food services, consumer packaged goods and commercial real estate sectors. Our mission is to create unparalleled upside potential in industries ripe for innovation and growth by leading newly emerging categories and seizing opportunities in markets undergoing transformational upheaval.

We are at the forefront of introducing and deploying AI-enabled robotics products, revolutionizing operational efficiencies and customer experiences across our focus areas. Additionally, we are committed to developing and marketing wellness-focused consumer packaged goods, meeting the growing demand for healthier and functional options. Through these strategic initiatives, Nightfood endeavors to drive significant value and growth for our shareholders.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance," "may," "can," "could", "will", "potential", "should," "goal" and variations of these words or similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Nightfood’s current expectations and speak only as of the date of this release. Actual results may differ materially from Nightfood’s current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business. Except as required by law, Nightfood does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise. More detailed information about Nightfood and the risk factors that may affect the realization of forward-looking statements is set forth in Nightfood’s filings with the Securities and Exchange Commission (SEC). Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov.

Contact:

Nightfood Holdings Inc.

Media Relations

Email: media@nightfood.com

Phone: (886) 261-7778

FAQ

What recent acquisition did Nightfood Holdings (NGTF) announce?

Nightfood Holdings announced the acquisition of Future Hospitality Ventures, a company providing AI-enabled robotics solutions for the hospitality and food service sectors.

What are the benefits of Nightfood's acquisition of Future Hospitality?

The acquisition is expected to improve efficiencies, reduce costs, and enhance the consumer experience through AI-enabled robotic solutions.

Who is the new CEO of Nightfood Holdings (NGTF)?

Sonny Wang has been appointed as the new Chief Executive Officer of Nightfood Holdings.

What market segments is Nightfood initially targeting with its new AI-enabled solutions?

Nightfood is targeting traditional restaurants, hotels, healthcare facilities, school cafeterias, and other food service operations.

What recent product launch did Nightfood's subsidiary achieve?

Nightfood's subsidiary successfully launched sleep-friendly Nightfood cookies in a direct-to-consumer model.

What are Nightfood's plans for future growth?

Nightfood plans to acquire additional operating companies with substantial assets and revenue, with more details to be disclosed soon.