Latest news with #JamieSteigerwald
Yahoo
08-04-2025
- Business
- Yahoo
Nightfood Holdings (OTCQB: NGTF) Signs $41M LOI to Acquire Victorville Hotel as Model Property for Robotics-Enabled Hospitality
Deal marks major step in NGTF's expansion strategy, combining AI-powered automation with real estate value creation TARRYTOWN, N.Y., April 08, 2025 (GLOBE NEWSWIRE) -- via IBN — Nightfood Holdings, Inc. (OTCQB: NGTF), an emerging leader in AI-powered automation and next-generation hospitality solutions, today announces its entry into a letter of intent (LOI) to acquire the assets of Victorville Treasure Holdings, LLC, owner and operator of a 155-room Holiday Inn(R) located at 15494 Palmdale Road in Victorville, California. The property is currently undergoing a major renovation, including the addition of a new state-of-the-art fitness center, to qualify for Courtyard by Marriott(R) rebranding. This transaction marks another milestone in Nightfood's aggressive acquisition strategy, further expanding its footprint in hospitality real estate and smart-service automation. The Victorville property utilizes Skytech's robotic technologies to reduce operating costs and improve profitability. According to Research and Markets, the global service robotics industry is projected to reach over $170 billion by 2030—highlighting the growing value of automation across sectors Nightfood is targeting. Following the acquisition, Nightfood plans to continue developing the site as a model property and proof-of-concept for its integrated Robotics-as-a-Service (RaaS) platform and hospitality asset management approach—one of many more to come. A Transformative Deal for NGTF Under the terms of the LOI, Nightfood will acquire the Victorville hotel in a transaction valued at $41 million, based on completion of ongoing renovations and franchise conversion. After accounting for an outstanding $10 million mortgage, the net purchase price of $31 million will be paid in Series C Convertible Preferred Stock, issued as part of a 100% share exchange under Section 368(b) of the Internal Revenue Code. The agreement also includes a performance-based earnout of $5 million, payable in additional Series C Preferred Shares, contingent upon the successful completion of two key milestones: The launch of the new gym facility with at least 50 enrolled members. A minimum of 30 days of operation under the Courtyard by Marriott(R) brand. Powering Growth Through Team Strength 'As we advance the acquisitions of Skytech, and now the Victorville hotel, I want to emphasize what we believe is our most important strategic asset: our team,' said Jamie Steigerwald, Chairman of Nightfood Holdings. 'This group brings unmatched depth in food service, hospitality and real estate development.' The leadership and operating team driving Nightfood's expansion has: Developed over 50 properties Managed more than 130 hotels Served over 6,000 quick-service restaurants 'This expertise is critical as we scale both our RaaS platform and our hospitality portfolio,' added Steigerwald. 'NGTF operates at the unique intersection of automation and real estate value creation—but it's not just about tools or assets. What truly sets us apart is our people: the experienced builders, operators, and visionaries who know how to execute at scale and adapt to market shifts in real time.' Strategic Synergy and Long-Term Value The Victorville hotel is projected to realize a 25–40% revenue increase following its upgrades and franchise conversion. Nightfood views the integration of high-performing real estate assets with cutting-edge automation technology as a foundational element of its long-term growth and value strategy. The LOI includes a 30-day due diligence period and a 180-day exclusivity clause, with the closing contingent upon: Delivery of two years of PCAOB-audited financials by the Seller. Uplisting approval for Nightfood Holdings to a national exchange. Continuing Strong Momentum in 2025 This LOI builds upon the momentum from NGTF's recently announced acquisition of Skytech Automated Solutions and further supports the company's $40 million M&A roadmap. Nightfood's strategy is designed to accelerate revenue growth, unlock operating synergies, and drive long-term shareholder value. The Company expects to announce additional transactions in the coming months as it continues executing its multipronged expansion plan throughout 2025. About Nightfood Holdings, Inc. (OTCQB: NGTF) Nightfood Holdings, Inc. is an acquisition and development company focused on next-generation hospitality solutions, specializing in AI-powered automation and robotics integration across hotel and food service environments. Through strategic M&A, Nightfood is building a portfolio that combines Robot-as-a-Service (RaaS) capabilities with high-performing real estate assets, uniquely positioned for operational excellence and long-term growth. Each acquisition expands NGTF's revenue base while creating downstream cross-selling and automation deployment opportunities. Forward-Looking Statements This press release contains forward-looking statements, including those relating to the anticipated completion of the transaction and future performance. These statements are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied. Please refer to the Company's SEC filings for further risk disclosures. Investor & Media ContactsInvestor Relations: ir@ Inquiries: media@ Corporate CommunicationsIBNAustin, OfficeEditor@
Yahoo
03-04-2025
- Business
- Yahoo
Nightfood acquires packaging solutions provider Carryout Supplies
Nightfood Holdings has finalised the acquisition of S W C Holdings, doing business as Carryout Supplies, a specialist in customised disposable packaging. The integration of Carryout Supplies will enhance Nightfood's robotics-as-a-service (RaaS) offerings and incorporate packaging solutions directly into the acquirer's automation supply chain. Additionally, the deal creates opportunities for cross-selling, leveraging Carryout's existing customer network. The acquisition grants Nightfood immediate access to a broad range of foodservice and hospitality accounts across North America. Additionally, it offers recurring revenue potential through packaging contracts. Nightfood chair Jamie Steigerwald said: 'Acquiring Carryout Supplies is a major step forward in our strategy to transform hospitality operations. 'Combining their industry-leading packaging capabilities with our advanced automation technology enables us to offer more efficient, scalable solutions that directly address cost, labour, and operational challenges in the sector.' Carryout Supplies, a company headquartered in California, US, began serving its local market in 2004 before expanding nationwide in 2007. It specialises in providing customised packaging solutions for the hospitality and foodservice industries. The company's product range includes branded food containers, frozen dessert cups, plastic hot and cold drink cups, lids, utensils, and takeaway containers. This acquisition follows the recent purchase of Skytech Automated Solutions, which brings a portfolio of AI robotics technologies to Nightfood. "Nightfood acquires packaging solutions provider Carryout Supplies" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
02-04-2025
- Business
- Yahoo
Nightfood Holdings Completes Acquisition of Carryout Supplies, Deepening Vertical Integration in AI-Powered Hospitality Automation
Recent Skytech deal combined with Carryout Supplies expands Nightfood's footprint across automation, robotics, and packaging in the hospitality industry TARRYTOWN, N.Y., April 02, 2025 (GLOBE NEWSWIRE) -- via IBN – Nightfood Holdings, Inc. (OTCQB: NGTF), an emerging leader in artificial intelligence (AI)-powered hospitality automation, today announces the closing of its acquisition of S W C Holdings (Carryout Supplies), a leading provider of customized disposable packaging solutions for the food service and hospitality industries. This announcement comes just one day after Nightfood revealed its acquisition of Skytech Automated Solutions, an AI robotics company with a growing portfolio of smart service technologies. Together, these two acquisitions significantly expand Nightfood's capabilities across both the operational and logistical sides of hospitality, supporting a broader mission to transform hotel and foodservice operations through automation and strategic vertical integration. 'Acquiring Carryout Supplies is a major step forward in our strategy to transform hospitality operations,' said Jamie Steigerwald, chairman of Nightfood Holdings. 'Combining their industry-leading packaging capabilities with our advanced automation technology enables us to offer more efficient, scalable solutions that directly address cost, labor, and operational challenges in the sector.' The integration of Carryout Supplies adds a new layer to Nightfood's Robotics-as-a-Service (RaaS) model by embedding packaging solutions within the automation supply chain. It also unlocks immediate cross-selling opportunities with Carryout's established client base and provides access to key hospitality and foodservice accounts across North America. Strategic Impact: Expands Nightfood's presence across the hospitality value chain. Unlocks operational synergies with Skytech's automation platform. Provides immediate recurring revenue from packaging contracts. Positions Nightfood as a fully integrated solutions provider for hotels, resorts, and food service operators. With multiple acquisitions now closed in Q1 2025, Nightfood is accelerating its market entry into key verticals and executing a disciplined growth strategy focused on profitability, scale and innovation. About Nightfood Holdings, Inc. (OTCQB: NGTF) Nightfood Holdings, Inc. is revolutionizing the hospitality industry by combining AI-powered robotics with strategic hotel acquisitions. The Company's innovative approach uses advanced automation technology to significantly improve hotel efficiency, reduce operating costs, and address labor challenges. With its dual focus on owning hotel properties and offering Robotics-as-a-Service (RaaS), NGTF is strategically positioned to capitalize on the rapidly growing global service robotics market, which is expected to surpass $170 billion by 2030. This integrated business model provides scalable revenue streams and positions NGTF as a leader in hospitality automation. Forward-Looking Statements This press release contains forward-looking statements regarding future events and Nightfood Holdings' expected performance. These statements are subject to risks and uncertainties, and actual results may differ materially from expectations. Investors are encouraged to review the Company's SEC filings for additional information. For more information on Nightfood Holdings, Inc. (OTCQB: NGTF), please visit Nightfood Contacts Investor Relations Email: ir@ Media Relations Email: media@ Corporate Communications: IBN Austin, Texas 512.354.7000 Office Editor@
Yahoo
01-04-2025
- Business
- Yahoo
Nightfood Acquires Skytech to Expand Leadership in AI-Driven Hotel Automation
Strategic acquisition enhances Robotics-as-a-Service capabilities and accelerates market penetration across the hotel sector TARRYTOWN, NY, April 01, 2025 (GLOBE NEWSWIRE) -- via IBN -- Nightfood Holdings, Inc. (OTCQB: NGTF) (the 'Company'), a leading innovator in hospitality automation through robotics and strategic property acquisition, today announces the successful acquisition of Skytech Automated Solutions, Inc., a recognized expert in artificial intelligence (AI)-driven service technologies for the hotel industry. This transaction follows Nightfood's recent purchase of Carryout Supplies (S W C Group) and further reinforces the Company's aggressive expansion strategy to solidify its position at the forefront of hospitality innovation. Skytech is best known for its Laundry Helper robot, which has been successfully deployed across a growing number of hotel properties. With a proven track record in delivering scalable, AI-powered service automation, Skytech's technology and expertise align seamlessly with Nightfood's integrated business model that combines hotel ownership with Robotics-as-a-Service (RaaS) solutions. 'Closing the Skytech acquisition represents a transformative leap forward for Nightfood,' said Jamie Steigerwald, Chairman of Nightfood Holdings. 'This strengthens our ability to scale automation across the hospitality industry—addressing key operational pain points such as labor shortages and rising costs. Together with the Carryout Supplies acquisition, we're building a powerful ecosystem designed to lead the future of hotel automation.' With Skytech's smart service technologies now part of the Nightfood platform, the Company can deliver end-to-end automation, from behind-the-scenes robotics like laundry and cleaning to guest-facing solutions that enhance customer experience and operational efficiency. These combined capabilities are expected to: Accelerate market penetration Drive operational efficiencies across hospitality clients Expand recurring revenue from third-party RaaS clients Watch for an interview on the Next Big Story YouTube channel (coming soon), where Skytech's Executive Chair, Ried Floco, will join host Kyle Livingston. In the interview, Floco will discuss Nightfood's acquisition of Skytech, as well as the combined synergies of both companies to deliver AI-driven RaaS solutions to the future of hospitality. Nightfood remains committed to disciplined, strategic expansion, continually evaluating opportunities to strengthen its competitive edge and deliver long-term value to shareholders. About Skytech Automated Solutions, Inc. Skytech Automated Solutions is a California-based provider of AI-driven robotics and automation technologies for the hospitality industry. Best known for its Laundry Helper robot, Skytech delivers scalable solutions that streamline hotel operations, reduce labor costs, and improve service quality. The company offers a full suite of service robots—ranging from delivery to cleaning—supported by advanced IoT and fleet management systems. Skytech's mission is to empower hospitality operators with intelligent automation that enhances operational efficiency and elevates the guest experience. To learn more, visit About Nightfood Holdings, Inc. (OTCQB: NGTF) Nightfood Holdings, Inc. is revolutionizing the hospitality industry by combining AI-powered robotics with strategic hotel acquisitions. The Company's innovative approach uses advanced automation technology to significantly improve hotel efficiency, reduce operating costs, and address labor challenges. With its dual focus on owning hotel properties and offering Robotics-as-a-Service (RaaS), NGTF is strategically positioned to capitalize on the rapidly growing global service robotics market, which is expected to surpass $170 billion by 2030. This integrated business model provides scalable revenue streams and positions NGTF as a leader in hospitality automation. Forward-Looking Statements This press release contains forward-looking statements regarding future events and Nightfood Holdings' expected performance. These statements are subject to risks and uncertainties, and actual results may differ materially from expectations. Investors are encouraged to review the Company's SEC filings for additional information. For more information on Nightfood Holdings, Inc. (OTCQB: NGTF), please visit Investor & Media Contacts Investor Relations Contact:Nightfood Holdings, ir@ Media Relations Contact:Email: media@ Phone: (866) 261-7778 Corporate Communications:IBNAustin, OfficeEditor@ in to access your portfolio
Yahoo
28-02-2025
- Business
- Yahoo
Nightfood Holdings, Inc. (NGTF) Provides Update on Strategic Acquisitions and Expansion for 2025
TARRYTOWN, N.Y., Feb. 28, 2025 (GLOBE NEWSWIRE) -- via IBN – Nightfood Holdings, Inc. (OTCQB: NGTF), a leader in AI-powered robotic solutions for the hospitality industry, is pleased to provide shareholders with an update on its ongoing merger and acquisition (M&A) strategy. As part of its ambitious expansion efforts, the Company continues to execute strategic acquisitions designed to strengthen its footprint in both the hospitality and automation sectors. Since announcing its expansion strategy earlier this year, Nightfood Holdings has made significant strides in securing assets that align with its mission to integrate cutting-edge robotics with hospitality operations. Below is a summary of the Company's key acquisitions and anticipated targets for 2025: Company/Asset Industry Focus Status Anticipated Closing Deal Size Future Hospitality Ventures Robotic Sales & Distribution Deal Closed January 2, 2024 $2M (All-Share Exchange) SWC Group Inc. (CarryOutSupplies) Custom Printed Packaging for Food Service Definitive Agreement Signed Expected FYE June 30th, 2025, Q4 $10M (All-Share Exchange) Undisclosed Robotics Firm Robotic Development, Sales & Deployment (Hospitality & Senior Care) Target Identified Expected FYE June 30th, 2025, Q4 All-Share Exchange (Price TBD) Globally Branded Full-Service Hotel (Southern California) Hospitality Asset & Robotics Proof of Concept Target Identified Expected FYE June 30th, 2025, Q4 $32M-$38M (All-Share Exchange) Nightfood Holdings has identified and planned acquisitions exceeding $40 million in total value, with its team actively exploring and negotiating additional targets. The Company remains committed to executing its acquisition roadmap while continually evaluating new opportunities to enhance shareholder value. The acquisition of Future Hospitality Ventures has established Nightfood's distribution capabilities for service robotics. Meanwhile, the pending acquisition of SWC Group Inc. is expected to expand its presence in the food service industry, leveraging its reach across 1,500-plus active customers' locations. Additionally, the Company's targeted acquisitions in robotics and hospitality real estate will serve as key milestones in its strategy to deploy AI-powered automation at scale. By leveraging automation-driven efficiencies, Nightfood Holdings aims to enhance profitability and improve real estate asset valuations. Leadership Commentary 'We are making tremendous progress in executing our acquisition strategy and strengthening our position at the intersection of robotics and hospitality,' said Jamie Steigerwald, chairman of Nightfood Holdings. 'The assets we are securing not only enhance our operational capabilities but also provide real-world environments to refine and expand our robotic automation solutions. Our team is working diligently to finalize these transactions while actively exploring additional growth opportunities for the remainder of the year.' Next Steps and Continued Growth With multiple key acquisitions in various stages of completion, Nightfood Holdings is well-positioned for a transformational year ahead. The Company anticipates closing additional strategic deals throughout 2025 and will provide ongoing updates as milestones are achieved. For investors and stakeholders, Nightfood remains committed to transparency and long-term value creation through disciplined acquisitions and operational expansion. About Nightfood Holdings, Inc. (OTCQB: NGTF) Nightfood Holdings, Inc. is a technology-driven hospitality solutions company specializing in AI-powered automation and robotics for the hotel and food service industries. Through strategic acquisitions, Nightfood is positioning itself as a leader in Robotics-as-a-Service (RaaS), helping businesses reduce costs, improve efficiency, and enhance asset value across both customer and in-house applications. Forward-Looking Statements This press release contains forward-looking statements regarding future events and Nightfood Holdings' expected performance. These statements are subject to risks and uncertainties, and actual results may differ materially from expectations. Investors are encouraged to review the company's SEC filings for additional information. Investor Relations Contact:Nightfood Holdings, ir@ Media Relations Contact:Email: media@ (866) 261-7778 Wire Service Contact:IBNAustin, OfficeEditor@ in to access your portfolio
