Reis & Irvy's Canada Licensee Closes $5.2M Master Franchise Contract For Calgary And Edmonton Markets

Posted On: 4/9/2018

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SAN DIEGO -- Reis & Irvy's Inc., a subsidiary of Generation Next Franchise Brands, Inc., said its recently appointed Canadian licensees have secured a franchise agreement representing more than $5.2 million, if certain purchase objectives are met, for two of Canada's largest markets. Local investor and entrepreneur, Barry Ehlert, will have exclusive rights to all Reis & Irvy's locations throughout Edmonton and Calgary.

The company, launched in 2016, said it has pre-sold more than 1,000 of its Reis & Irvy's frozen yogurt vending machines, worth an estimated $40 million and is scheduled for mass rollout by manufacturing partner, Flex Ltd., beginning in April.

Reis & Irvy's fro-yo venders deliver frozen yogurt, ice cream, gelato, acai, frozen ice and custard with toppings within 60 seconds or less. Amusement parks, hotels, movie studios, malls, airports, theaters are among the planned locations for placement.

Ehlert recently worked in the redevelopment of several golf courses, including the Harvest Hills Golf Course and Mickelson National Golf Club, in Calgary. He is currently working on a retail development project which is the result of reconfiguring one of his golf and real estate assets. In addition to his golf course businesses, Ehlert owns a boutique marketing company and has a partnership with a luxury home builder in Calgary.

As part of its obligations to Generation Next Franchise Brands, the Canada licensees, Brett Beninger, Keegan Downer and Alex Statten, owners of Reis & Irvy's Canada, must purchase a minimum of 500 total units during the five-year term which equates to approximately $18.12 million in future revenues. This particular sale, in only the licensees' first three months of actual purchases, represents 16% of the total purchase objectives, which equates to approximately $2.9 million.