TORONTO, Aug. 22 /PRNewswire-FirstCall/ -- Hat Trick Beverages Inc. (HKBV.PK) today, after the market closed announced that it has begun negotiations to acquire a vending manufacturing company. The seller, Vendmax International, Inc. (Vendmax) is a manufacturer and Franchisor of small vending machines, having sold hundreds of thousands of machines in North America and around the globe.
At its peak several years ago, Vendmax had gross sales of roughly $6 million annually. In recent years Vendmax have seen its sales decline, while the Company focused on developing a new, breakthrough product. Hat Trick management sees this mishap as an opportunity to perhaps launch a new division or deploy other alternatives that can return some value to its shareholders.
This breakthrough product comes in the form of small vending machines that dispense all natural, high energy gum and mints. These products deliver roughly the same level of energy as one would receive in a leading can of energy drink. Most consumers are well aware of the explosion in popularity of high energy drinks, and these products appeal to the same target market, while offering a variation in terms of product format, and eliminating the need for refrigeration.
9 Million cans of Energy drinks are sold in the USA daily and over 2.5 Billion cans of the worlds leading Energy drink are sold each year in over 130 countries. VendMax Company founder Tom Semeniuk explains; "The Energy Drink Market is a $3 billion+ a year business, and still growing. Our Mints and Gum are very popular formats with consumers, and provide the same benefits of most high energy drinks, at a fraction of the cost. We believe this is a breakthrough product, and look forward to working with Hat Trick to bring the full power of a U.S. based public company to launch this product in a big way".
Hat Trick Beverages CEO Sender Vaiser added; "We have been developing vending machine concepts for hot and cold beverages within the Tango Cafe division. Vendmax products caught us a little off guard, in that they are not beverages, but compete with high energy beverages in a vending machine format. By looking at this opportunity with some creativity, we think we can leverage the benefits of both companies and make the whole greater than the sum of the parts. Another key attraction for us was Vendmax's extensive experience in the Vending Machine business, from a manufacture, distribution and service point of view. We will be conducting our due diligence process in the next few weeks, and are very optimistic about the results".
The deal is subject to financing which the issuers financial backers are closely evaluating the various options available. The issuer plans on making further announcements on this shortly.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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