CORONA, Calif., Jan. 21, 2014 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) ( www.autoretail.com), a leader in custom vending machines, automated retailing business opportunities, and self-service kiosks, announced that an independent investment fund has been created for the sole purpose of purchasing Marley Coffee Automated Kiosks. AVT is the manufacturer of the Marley Coffee Kiosks.
Automated Retail Income Development, Inc. ("ARID") intends to raise up to $4,900,000.00, and to utilize the funds for the purchase of up to 300 Marley Coffee Automated Kiosks.
ARID has entered into negotiations with Krogers, Safeway and various military bases, to place coffee machines in locations owned and/or operated by these entities. Many of the placements of the new Marley Coffee Automated Kiosks will be in highest grossing locations that have been abandoned by Outerwall when they pulled their Rubi systems out of the market.
ARID will work with Marley Coffee Automated Stores, Inc. to provide system placement, upkeep, and restocking."This fund will allow investors to enter the $7.3 billion coffee vending market with the best system in the industry," said Joe Menichiello, Vice President of Sales and Marketing at Marley Coffee Automated Stores, Inc. "Now individuals can participate in the profitable gourmet coffee industry without any of the day-to-day hassles of running a business," he added. "We have the ability to cherry-pick the top performing locations where the Rubi kiosks flourished. This provides a unique opportunity to place systems where they have already been proven to excel." ARID estimates that it will begin delivering machines to Safeway Stores and selected Military Bases beginning 90 days from the date that it begins accepting investment funds. Once the kiosks are delivered, investors will receive quarterly distributions. "We are proud to be a partner with Marley Coffee and welcome this increase in production," said James Winsor, CEO of AVT, Inc. "Our award winning designs and high quality workmanship assures that the Marley Coffee Automated Kiosks will be well received in the marketplace." For more information on the ARID Fund, contact 951-888-2405.