Nightfood
Holdings
Inc.
Completes
Major
Step
on
Uplist
Journey
by
Closing Strategic
All-Stock Acquisition of CarryoutSupplies.com
TARRYTOWN,
NY -- September 10, 2024 -- InvestorsHub NewsWire -- Nightfood
Holdings Inc. ("Nightfood") (OTCQB:
NGTF) is pleased to announce
the closing of its strategic all-stock acquisition of SWC Group
Inc., doing business as CarryoutSupplies.com ("CarryOut"). CarryOut
is a leading wholesaler and distributor of custom takeout packaging
for the foodservice industry, with traditional, biodegradable and
compostable options.
This
acquisition is a significant step in Nightfood's growth and
Nasdaq-uplist strategy, which was initially announced in November
2023. In the last seven months, under the leadership of new Chief
Executive Officer Sonny Wang, Nightfood has successfully completed
two all- stock acquisitions and brought in millions in revenue and
assets.
Founded
in 2004, CarryOut has served more than 7,000 food services
accounts, specializing in providing packaging solutions such as ice
cream cups, coffee cups, lids and utensils to small and
medium-sized foodservice businesses including restaurants, cafes,
ice cream parlors, tea houses and yogurt shops. Despite facing
significant challenges during the COVID-19 pandemic, CarryOut
rebounded in 2023 with $2 million in revenue and is projecting 20%
growth in 2024.
Strategic Value and Synergies
The
acquisition of CarryOut offers numerous strategic benefits to
Nightfood, enhancing operational efficiencies, expanding its
customer base and bolstering its product offerings. This
integration allows for:
Expanded Product Offerings:
With CarryOut's extensive packaging solutions now under the
Nightfood umbrella, Nightfood can better serve existing customers
and enter new markets by offering a comprehensive range of products
across its subsidiaries.
Synergistic Growth Opportunities: By
aligning CarryOut's network of small and medium-sized foodservice
operators with Nightfood's offerings, Nightfood anticipates new
opportunities for cross-promotion, including the introduction of
Nightfood's healthy snacks and service robotics solutions to
restaurants, cafes and dessert shops.
Operational Efficiencies:
This acquisition will streamline back-office operations across
Nightfood's subsidiaries, including the consolidation of accounting
services, shared legal resources, interchangeable staffing and a
more unified management team. These synergies are expected to
improve human and capital resource allocation, driving down overall
costs.
Sonny
Wang commented: "We are thrilled to announce the successful
acquisition of CarryoutSupplies.com and excited for what we believe
this acquisition will allow Nightfood to accomplish. This deal not
only strengthens our position in the foodservice industry but also
can drive immense value through operational efficiencies and the
integration of complementary products and services across
Nightfood's subsidiaries. We look forward to working with the
CarryOut team to exceed the heights it achieved pre-COVID, made
possible by its recent growth."
Looking Ahead
The
closing of this all-stock acquisition marks a pivotal moment in
Nightfood's growth and Nasdaq-uplist strategy. We are confident
that the combined strengths of the subsidiaries currently under
Nightfood's umbrella, as well as other companies we expect to
acquire in the near future, will drive long-term success and create
value for all stakeholders.
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.
About Carryoutsupplies.com
SWC
Group Inc., doing business as Carryoutsupplies.com, is a leading
provider of disposable takeout packaging solutions serving the
entire United States. The company specializes in custom traditional
and eco-friendly custom printed packaging for small and
medium-sized restaurants,
dessert shops and other foodservice businesses.
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,
and 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.
Media Contact:
Contact:
Nightfood
Holdings Inc. Media Relations
Email:
media@nightfood.com Phone:
(886) 261-7778
Wire Service Contact:
IBN
Los
Angeles, California
www.InvestorBrandNetwork.com 310.299.1717
Office
Editor@InvestorBrandNetwork.com