Robot-run restaurants are coming to Walmart [Yahoo! Finance]
Richtech Robotics Inc. (RR)
Company Research
Source: Yahoo! Finance
Ghost Kitchen Brands, which operates restaurants in Walmarts in the U.S. and Canada, has tapped robotics company RichTech as a franchisee for 20 locations in Arizona, Colorado and Texas. RichTech sells a number of foodservice robots, such as an automated bartender and a robotic waiter. It also uses those robots to operate restaurants through a subsidiary, AlphaMax Management. The idea is to help commercialize its technology while also generating revenue. RichTech currently has a presence in Ghost Kitchens restaurants in two Walmart locations, in Dawsonville, Georgia, and Rockford, Illinois. These outlets feature RichTech's beverage robot, ADAM. The egg-shaped robot with arms can make coffee and boba as well as mixed drinks. RichTech and Ghost Kitchens have a deal to bring ADAM to 240 locations. These two locations have seen steady sales and traffic, said Ghost Kitchens CEO George Kottas, and the company expects the next crop of RichTech-operated restaurants to generate annual s
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News
- Richtech Robotics to Present at the LD Micro Main Event XVIIGlobeNewswire
- Richtech Robotics to open 20 more automated restaurants in Walmarts [Yahoo! Finance]Yahoo! Finance
- Richtech Robotics expands agreement to manage 20 additional Walmart-located restaurants [Seeking Alpha]Seeking Alpha
- Richtech Robotics Expands Agreement with Ghost Kitchens to Manage 20 Additional Walmart-Located Restaurants, Growing its Restaurant Operations ModelGlobeNewswire
- Richtech Robotics signs distribution agreement with Sproutmation Oct. 08, 2024 9:01 AM ET By: Akanksha Khushi , SA News Editor [Seeking Alpha]Seeking Alpha
RR
Sec Filings
- 10/31/24 - Form 8-K
- 10/31/24 - Form 4
- 10/22/24 - Form 8-K
- RR's page on the SEC website