Fresh Healthy Vending International Inc. has entered into a nonbinding term sheet to acquire an integrated micro-market platform and all micro-market assets and operations from Corporate Refreshment Services LLC. Terms of the agreement were not released.
A micro-market is an unstaffed, self-checkout, mini food store that integrates into an office space, the company said.
Upon closing of the proposed purchase, San Diego-based Fresh Healthy Vending (OTC: VEND) plans to rapidly increase the number of company-owned micro-markets in the San Diego area. Also, the company expects to begin offering the integrated micro-market platform to existing and prospective franchisees, Fresh Healthy said.
Fresh Healthy Vending executives describe the soon-to-be Fresh Micro-Market as “a mini whole foods for the office break room.”