Snakes & Lattes Inc, a subsidiary of Amfil Technologies Inc (OTCMKTS:FUNN), will outsource its distribution, logistics, and fulfillment operations. The company intends to focus on expanding retail and hospitality operations. By capitalizing its brand awareness, it will concentrate on enhancing the count of Snakes & Lattes Venues.
Enters a pact with an investor
Snakes & Lattes signed a deal with a shareholder for expanding the operational Snakes & Lattes cafes across the US. It plans to locate 10 suitable locations for its new venues. The shareholder plays a vital role in negotiating the agreements and source funding. It will also plan and oversee construction activities for a ready to operate venue soon.
Plans to take over competitors
Several companies that engage in hospitality and board game businesses are insecure because of the ongoing coronavirus crises. The management of Snakes & Lattes plans to acquire or absorb some of its competitors. Several companies based in the UK, Canada, and the US has already approached Snakes & Lattes for a possible takeover or merger opportunities.
Snakes & Lattes is negotiating with two board game cafes based in Canada, and another UK based Board Game Café Company. It is also in advanced stages to acquire an entertainment/ café company in a major city in the US. The company expects to conclude the deal for an extravagant, unique, and largest facility soon.
Snakes & Lattes is also constructing new locations in Tucson, Arizona, and Guelph, Ontario. It expects to inaugurate both the locations in early October 2020. The company is preparing for the back to school season in each city.
Inks a deal with Loblaws
Snakes & Lattes signed a pact with Loblaws to choose board games for its innovative online market project. The company is working to offer 300 SKUs in the new market place soon. It also plans to establish its footprint on the Amazon and Walmart online channels.
CEO of Snakes & Lattes, Ben Castanie, said the company is excited about its growth prospects for the rest of the year. It has numerous growth opportunities in retail footprint and online, onboard game sales. The company is committed to operationalize online seller accounts and inaugurate new venues soon.
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