Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_investment.php on line 376
Dealipedia - Kosher Vending Industries LLC. receives an investment from KRh Thermal Systems Inc...

Kosher Vending Industries LLC. receives an investment

Deal Participants:
Company: Kosher Vending Industries LLC. View Profile Charts Homepage
Investors: KRh Thermal Systems Inc View Profile Add Homepage   Google Search
[x]
Enter Homepage URL http://
Deal Financials:
Date:
Announced: May 12, 2009

PRESS RELEASE - Kosher Vending Industries LLC. receives an investment

Hip-Hop Executive and Fashion Entrepreneur Ruby Azrak Endorses Acquisition of Kosher Vending Industries, LLC.

IRVINE, Calif., May 12 /PRNewswire/ -- KRh Thermal Systems Inc. today announced the acquisition of Kosher Vending Industries, LLC. While specific terms of the deal were not disclosed, Mr. Azrak, (former Phat Farm executive and partner to hip-hop mogul Russell Simmons, and current producer of House of Dereon, superstar Beyonce's family brand) confirmed that "this strategic acquisition will help fuel a worldwide expansion of the only truly automated Kosher Diner ever produced."

Through a Trademark License and Market Development Agreement, KRh and KVI conducted a successful two-year, in-market Kosher program with approximately 100 Hot Nosh 24/6(TM) Diners. The Diners were strategically placed in locations throughout the United States operating in theaters, business offices, factories, hospitals, airports, stadiums, schools and amusement parks. "This has been an extraordinary run, especially during these turbulent economic times," added Alan Cohnen, co-founder of KVI.

KVI offers the first effective solution designed to address the away-from-home foodservice Kosher market needs in a manner that complies with all Kosher requirements. The Hot Nosh 24/6(TM) automated Diner fills a significant gap in the industry, offering convenient meal solutions by "bringing the restaurant to consumers" who follow strict Kosher dietary laws. Kosher foods have grown into a $14.6 billion industry. "This acquisition comes at a critical juncture in time as fierce demand for remote Kosher culinary cuisine continues to spread globally," added Doron Fetman, co-founder of KVI. In the U.S. alone, there are approximately 7.5 million consumers of Kosher products. 55 percent of those who buy Kosher food products believe that such products are safer or healthier - a major consumer buying trend in the food industry.

KRh is excited about merging the management, product supply and support to the marketing and distribution of Kosher food in a manner that has never been done before. The consolidation of efforts will reduce costs and will increase efficiencies and provide for much improved service to the Kosher market. The management for both companies believes the combination will form a model that can be replicated throughout the United States and around the world. "It is a privilege to be a part of an effort that utilizes the HOT Choice® products in a manner that is the first ever to solve the problem in accessing quality, hot Kosher food on the go," explained Michael Rudder, CEO of KRh. "KRh believes that, well beyond the mere economics, this application is the highest and best use of our technology."

KRh Thermal Systems, Inc. has proven itself a leader as a marketing and product development company focused on driving market innovation in the foodservice sectors.

For business opportunities, please visit http://www.koshervendingindustries.com and http://www.hotchoice.com

Contacts:

Kosher Vending Industries, LLC.
Alan Cohnen, CEO
201-574-6511
acohnen@koshervendingindustries.com

KRh Thermal Systems, Inc.
Michael Rudder, CEO
michaelrudder@krhthermal.com
This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.

Edit History:

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_investment.php on line 963
May 12 '09
This version submitted by Anonymous
Top