AVT, Inc. Acquires Established Orange County Mexican Restaurant
Significant Revenue Increases in Vending Operations and Restaurant Business Predicted
AVT, Inc. (formerly Automated Vending Technologies) (Pink Sheets: AVTC), today announced that it has completed the acquisition of Jalapenos Mexican Restaurant in Lake Forest, California. Details of the transaction were not disclosed.
"This acquisition significantly increases revenues for AVT," said Natalie Russell, AVT's Secretary/Treasurer. "It allows us to use the cash flow to grow our vending business. We also intend to feature Jalapenos' excellent fresh products in our vending units. AVT plans to use AVTi Media (high tech advertising located on AVT Vending Systems) to let more patrons know about Jalapenos' menus, specials and catering services. The synergies between the two companies, and the opportunities to grow revenues, are significant."
Jalapenos was established in 1987 and the family-owned restaurant has maintained a superior standard of excellence ever since, stringently adhering to the philosophy of consistently providing its customers the highest quality of food and service.
Shannon Illingworth, founder of AVT, and a longtime patron of the restaurant, said his vision is to open more Jalapenos restaurants in the future with the freshest Mexican food anywhere, and to incorporate several of their food products to the Company's successful vending operations. "Our vending machines, with state-of-the-art technology, are capable of delivering to the customer a tasty hot meal just as if it came out of Jalapenos' kitchen," Mr. Illingworth said.
AVT, Inc. (Pink Sheets: AVTC) is a vending solutions provider based in Corona, California that has developed several significant vending machine technologies that yield a more efficient and reliable yet technically advanced system. This advanced technology provides methods for cashless payment, credit card and debit card use, dynamic advertising with remote tracking and inventory management. AVT has grown privately for five years and has a strong balance sheet with current revenues, inventory and assets. AVT currently serves more than 300 government and commercial vending accounts in Southern California.
- Claire's on Cedros First San Diego Restaurant Awarded Prestigious LEED(R) Platinum Certification
- Organic Bistro Sees Sales Boost of Seafood Products As Consumers & Retailers Embrace Sustainable Fishing Practices
- Spending on Retail Technology Systems Will Exceed $20 Billion in 2014, According to ABI Research
- Money Management International Releases Frugal Foodie Guide
- Fior D'Italia Restaurant Celebrates Its 125th Year Anniversary As America’s Oldest Italian Restaurant with Menu Prices from 1886
- Johnny Rockets Rides Into Two Six Flags Theme Parks
- Spicy Pickle to Open Two Special Venues
- Rick's Cabaret International, Inc. and VCG Holding Corp. Extend Letter of Intent to Merge to March 31, 2010
- Nevistas Offers Hotel Sale Leaseback Financing Program for Flagged Hotels
- Green Mountain Coffee Roasters, Inc. Extends Tender Offer to Acquire Diedrich Coffee
