Feniks buys Rubi coffee kiosk business in US
Feniks, a US-based food tech start-up, has purchased assets of Rubi coffee kiosk business from Outerwall, for an undisclosed amount.
The acquisition covers Rubi brand name, technology and associated intellectual property, as well as the completed inventory of Rubi coffee kiosks.
Feniks will invest around $1.5m to re-launch the Rubi Micro-Café concept over the next two months and will collaborate with vending operators in the country for the installation of Rubi in retail stores, college campuses, hospitals and workplaces.
Feniks CEO Jim Craig said that the company's work on the Rubi Micro-Café over the past few years has successfully demonstrated the demand for a next generation coffee kiosk that delivers a premium quality product with an elevated user experience.
"With consumers spending over $18B each year on coffee away from home, we are incredibly excited to continue developing the Rubi platform and bringing great coffee to new places where it is currently hard to find," added Craig.
Feniks was founded earlier in 2014 by Jim Craig, Travis Pierce, and Doug Coppenbarger, the former leaders of the Rubi kiosk product team at Outerwall.
Image: Feniks buys Rubi coffee kiosk business. Photo: courtesy of zirconicusso / FreeDigitalPhotos.net.