- Nightfood is blowing up TikTok with its sleep-friendly cookies for nighttime snackers
- 2024 has been a transformational year, as Nightfood Holdings diversifies into new markets, including Robots-as-a-service (“RaaS”)
- Nightfood has acquired Future Hospitality Ventures, providing cutting edge technologies for the hospitality and foodservice industry, and signed a Letter of Intent to acquire CarryOutSupplies.com, a packaging distribution company with sales on the rise after $2 million in 2023
Nightfood Holdings (OTCQB: NGTF) has come a long way since its initial focus on the nighttime snacking market. Recent developments reveal a company actively pursuing diversification and expansion into new and emerging sectors. In addition to their sleep-friendly cookies for nighttime snackers, Nightfood is demonstrating building value by exploring disruptive technologies and capturing new markets.
A Foundation in Sleep-Friendly Snacks
Nightfood’s journey began with a simple yet compelling premise: address the growing nighttime snacking epidemic. The company’s flagship products – a line of sleep-friendly cookies – are formulated to minimize sleep disruption caused by unhealthy nighttime snacking, and nutritionally support sleep quality. This unique offering is aimed at the 93% of American adults who snack before bed at least once a week (the average American adult snacks 3.9 nights per week, resulting in over 1 billion nighttime snacks consumed weekly). The cookies are blowing-up TikTok. Nightfood’s pioneering of this potentially massive snacking sub-category will continue to be a core asset.
Disrupting Hospitality with Robots as a Service (“RaaS”)
Nightfood isn’t content with simply offering snacks. Recent announcements highlight the company’s acquisition of Future Hospitality Ventures, a provider of automation and robotics technology for the hospitality and foodservice industry. Management is understandably keeping the details of the new tech close to the vest, but press releases suggest a focus on improving operational efficiency and addressing labor cost and shortage. This foray into robotics and AI signifies Nightfood’s ambition to become a solutions provider within the hospitality space, moving beyond just a snack supplier.
The company has dropped hints that more information will be forthcoming based upon comments that meetings with management across an array of industries from hotels to restaurants is creating a stir for additional discussions.
CarryOutSupplies.com Acquisition Broadens Horizons
Perhaps the most exciting development is Nightfood’s recent entry into a letter of intent to acquire CarryOutSupplies.com in an all-stock transaction. CarryOut is an established provider of disposable and eco-friendly supplies to restaurants and foodservice establishments, offering a wide range of takeout supplies. This acquisition indicates Nightfood’s desire to build a comprehensive ecosystem within the food service industry.
It also serves to jump-start revenue. CarryOutSupplies.com had a thriving business before the covid pandemic dampened sales. Business is recovering, with sales topping $2 million in 2023, presenting a well-timed opportunity for Nightfood to pull the company under its umbrella.
Diversification: A Calculated Gamble
Can a small holding company effectively and efficiently layer in multiple operating companies to drive investor value? The timing certainly seems right for each individual subsidiary: Nightfood has reported initial success from the online launch of their sleep-friendly cookies; Future Hospitality is launching into a very receptive market as California restaurants and hospitality are feeling the crush of a massive minimum wage increase that has been making national news; and CarryOutSupplies seems poised to reach pre-pandemic revenue levels which are multiples higher than the $2 million in sales recorded in calendar 2023.
There are several benefits to Nightfood’s diversification strategy. For starters, while pioneering the sleep-friendly snack category, expansion into automation and foodservice supplies offers access to markets that are already established and on a growth trajectory, easing the heavy lifting. Second, Wall Street likes tech, but loves revenue. Nightfood’s diversification creates multiple revenue streams, and instantly adds millions in revenue with the proposed acquisition of CarryOut. This can provide financial stability and reduce vulnerability to market fluctuations.
Lastly, the potential synergies between the businesses are numerous. For instance, marketing and selling robotic solutions leveraging CarryOutSupplies.com e-commerce, while Nightfood’s ongoing discussions could lead to new distribution channels for its snacks, as well as new sales channels through CarryOutSupplies’ network of customers.
Nightfood’s diversification strategy could certainly deliver strong value to shareholders. While sleep-friendly snacks remain a core product line with potential explosive upside, Nightfood Holdings is evolving into a multifaceted entity with a presence in the hospitality industry, technology, and foodservice. This bold approach, if executed effectively, could deliver exciting growth for investors here in 2024 and beyond.
For more information, visit the company’s website at https://nightfood.com/.
NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at http://ibn.fm/NGTF
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