Fund Created to Purchase Marley Coffee Automated Kiosks Manufactured by AVT $4.9 million will be raised to purchase up to 300 machines
CORONA, Calif., Jan. 21, 2014 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in custom vending machines, automated retailing business opportunities, and self-service kiosks, announced that an independent investment fund has been created for the sole purpose of purchasing Marley Coffee Automated Kiosks. AVT is the manufacturer of the Marley Coffee Kiosks.
Automated Retail Income Development, Inc. ("ARID") intends to raise up to $4,900,000.00, and to utilize the funds for the purchase of up to 300 Marley Coffee Automated Kiosks.
ARID has entered into negotiations with Krogers, Safeway and various military bases, to place coffee machines in locations owned and/or operated by these entities. Many of the placements of the new Marley Coffee Automated Kiosks will be in highest grossing locations that have been abandoned by Outerwall when they pulled their Rubi systems out of the market.
ARID will work with Marley Coffee Automated Stores, Inc. to provide system placement, upkeep, and restocking.
"This fund will allow investors to enter the $7.3 billion coffee vending market with the best system in the industry," said Joe Menichiello, Vice President of Sales and Marketing at Marley Coffee Automated Stores, Inc. "Now individuals can participate in the profitable gourmet coffee industry without any of the day-to-day hassles of running a business," he added. "We have the ability to cherry-pick the top performing locations where the Rubi kiosks flourished. This provides a unique opportunity to place systems where they have already been proven to excel."
ARID estimates that it will begin delivering machines to Safeway Stores and selected Military Bases beginning 90 days from the date that it begins accepting investment funds. Once the kiosks are delivered, investors will receive quarterly distributions.
"We are proud to be a partner with Marley Coffee and welcome this increase in production," said James Winsor, CEO of AVT, Inc. "Our award winning designs and high quality workmanship assures that the Marley Coffee Automated Kiosks will be well received in the marketplace."
For more information on the ARID Fund, contact 951-888-2405.
For more information on Marley Coffee Automated Stores, visit: http://www.marleycoffeestores.com/
For more information on Marley Coffee / Jammin Java Corp. (OTCQB: JAMN), visit: www.marleycoffee.com
For more information on AVT and their industry-leading automated retailing systems, micro-markets, automated malls, custom vending machines, and self-service kiosks, contact the company at (877) 424-3663, or visit the website at: www.autoretail.com.
Forward-Looking Statements: The statements in this and any of our press releases constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry, competition, customer's business decisions, and overall economic conditions. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
SOURCE AVT, Inc.