Nightfood Holdings Inc. (NGTF) Eyes Growth with Ca
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Posted On: 07/25/2024 5:02:55 PM
Nightfood Holdings Inc. (NGTF) Eyes Growth with CarryOut Acquisition
- Nightfood made its name in the sleep-friendly snack market, but has made two acquisitions diversifying operations recently to capitalize on an emerging market and a reemerging company
- Nightfood signed an LOI to acquire SWC Group, d/b/a Carryoutsupplies.com
- Carryoutsupplies.com has serviced over 7,000 wholesale accounts since inception in 2004, but faced extreme challenges in the face of the global covid pandemic
- Business is returning, presenting an opportunity for Nightfood to grow sales that reached $2 million in 2023
Nightfood Holdings (OTCQB: NGTF) is at it again. The Tarrytown, NY-based company built its name with sleep-friendly snacks and is now starting to stack its portfolio with opportunistic acquisitions. On July 17, Nightfood announced a letter of intent to acquire SWC Group Inc., doing business as Carryoutsupplies.com, or CarryOut for short.
This move signals Nightfood’s ambition to continue expansion beyond the nighttime snack category and capitalize on a growing segment of the food service industry. The acquisition will be completed through Future Hospitality Ventures Holdings, Inc., a wholly owned subsidiary that Nightfood recently acquired. Future Hospitality is revolutionizing the hospitality industry with plug-and-play robotics and automation solutions designed to enhance service efficiency and consistency. Service robots in hospitality are one of the highest growth industries today.
CarryOut: A Reemerging Leader in Takeout Packaging
CarryOut (www.CarryOutSupplies.com), established in 2004, specializes in custom-printed food packaging offering both traditional and environmentally friendly selections for restaurants, cafes, and other foodservice businesses. Their offerings include containers for hot food, snacks, sushi, beverages, ice cream, and more. Since inception, the company boasts over 7,000 wholesale accounts and is known for its innovative approach to eco-friendly packaging solutions.
Like so many other businesses, the COVID-19 pandemic nearly wiped-out CarryOut. However, the resilient business model is now recovering with over $2 million in revenue for 2023, a formidable figure, but still well below pre-pandemic revenue records. Management at Nightfood believes CarryOut is well-positioned to surpass its pre-pandemic success.
Growth Through Eco-Friendly Packaging Solutions
CarryOut caters to the increasing demand for sustainable food packaging by offering a range of traditional and eco-friendly options. This aligns with Nightfood’s commitment to innovation and future-focused solutions. The acquisition presents an opportunity for Nightfood to leverage CarryOut’s expertise and expand its footprint in the eco-friendly packaging market.
“We are thrilled at the opportunity to acquire rapidly growing CarryOut Supplies and for the opportunity to restore it to its pre-COVID scale and beyond,” said Sonny Wang, CEO of Nightfood in a press release. “CarryOut is an exciting stand-alone business, and the strategic value of this acquisition is greatly enhanced by synergies with our existing subsidiaries and those we anticipate acquiring in the future.”
The prospect of future acquisitions could be well received by investors. Nightfood sees significant growth potential in securing partnerships with regional and national foodservice chains through CarryOut’s unique and environmentally friendly offerings. Additionally, the acquisition creates synergies with Nightfood’s existing and future subsidiaries, suggesting further diversification plans.
This acquisition marks a significant step for Nightfood, demonstrating its ambition to be a leading force in the broader foodservice industry. While Nightfood will continue to develop its core sleep-focused products, the CarryOut acquisition highlights its commitment to identifying and capitalizing on emerging trends within the foodservice sector.
For more information, visit the company’s website at https://ir.nightfood.com/.
NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at http://nnw.fm/NGTF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
- Nightfood made its name in the sleep-friendly snack market, but has made two acquisitions diversifying operations recently to capitalize on an emerging market and a reemerging company
- Nightfood signed an LOI to acquire SWC Group, d/b/a Carryoutsupplies.com
- Carryoutsupplies.com has serviced over 7,000 wholesale accounts since inception in 2004, but faced extreme challenges in the face of the global covid pandemic
- Business is returning, presenting an opportunity for Nightfood to grow sales that reached $2 million in 2023
Nightfood Holdings (OTCQB: NGTF) is at it again. The Tarrytown, NY-based company built its name with sleep-friendly snacks and is now starting to stack its portfolio with opportunistic acquisitions. On July 17, Nightfood announced a letter of intent to acquire SWC Group Inc., doing business as Carryoutsupplies.com, or CarryOut for short.
This move signals Nightfood’s ambition to continue expansion beyond the nighttime snack category and capitalize on a growing segment of the food service industry. The acquisition will be completed through Future Hospitality Ventures Holdings, Inc., a wholly owned subsidiary that Nightfood recently acquired. Future Hospitality is revolutionizing the hospitality industry with plug-and-play robotics and automation solutions designed to enhance service efficiency and consistency. Service robots in hospitality are one of the highest growth industries today.
CarryOut: A Reemerging Leader in Takeout Packaging
CarryOut (www.CarryOutSupplies.com), established in 2004, specializes in custom-printed food packaging offering both traditional and environmentally friendly selections for restaurants, cafes, and other foodservice businesses. Their offerings include containers for hot food, snacks, sushi, beverages, ice cream, and more. Since inception, the company boasts over 7,000 wholesale accounts and is known for its innovative approach to eco-friendly packaging solutions.
Like so many other businesses, the COVID-19 pandemic nearly wiped-out CarryOut. However, the resilient business model is now recovering with over $2 million in revenue for 2023, a formidable figure, but still well below pre-pandemic revenue records. Management at Nightfood believes CarryOut is well-positioned to surpass its pre-pandemic success.
Growth Through Eco-Friendly Packaging Solutions
CarryOut caters to the increasing demand for sustainable food packaging by offering a range of traditional and eco-friendly options. This aligns with Nightfood’s commitment to innovation and future-focused solutions. The acquisition presents an opportunity for Nightfood to leverage CarryOut’s expertise and expand its footprint in the eco-friendly packaging market.
“We are thrilled at the opportunity to acquire rapidly growing CarryOut Supplies and for the opportunity to restore it to its pre-COVID scale and beyond,” said Sonny Wang, CEO of Nightfood in a press release. “CarryOut is an exciting stand-alone business, and the strategic value of this acquisition is greatly enhanced by synergies with our existing subsidiaries and those we anticipate acquiring in the future.”
The prospect of future acquisitions could be well received by investors. Nightfood sees significant growth potential in securing partnerships with regional and national foodservice chains through CarryOut’s unique and environmentally friendly offerings. Additionally, the acquisition creates synergies with Nightfood’s existing and future subsidiaries, suggesting further diversification plans.
This acquisition marks a significant step for Nightfood, demonstrating its ambition to be a leading force in the broader foodservice industry. While Nightfood will continue to develop its core sleep-focused products, the CarryOut acquisition highlights its commitment to identifying and capitalizing on emerging trends within the foodservice sector.
For more information, visit the company’s website at https://ir.nightfood.com/.
NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at http://nnw.fm/NGTF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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