Kisses From Italy enters strategic alliance with celebrity chef Scott Conant to develop new restaurant concept

Kisses From Italy Inc.

Kisses From Italy (KITL) signs strategic alliance with SC Culinary LLC (Scott Conant) to develop a new fast-casual brand; Fransmart to lead global franchise development.
SC Culinary licenses concept, intellectual property, and Scott Conant's name/image/likeness to a new KITL subsidiary; consideration includes minimum cash payments and restricted stock upon milestones.
Agreement has 10-year term with auto-renewal; SC Culinary can terminate on default and then has right to operate brand independently.
KITL co-CEO Claudio Ferri calls partnership 'most significant achievement in Company's history'; new concept in late-stage development with a major U.S. city as initial location.
KITL plans to become a holding company housing multiple brands; currently has retail products in 70+ stores in Canada.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Kisses From Italy Inc. entered into Strategic Alliance Agreement with SC Culinary LLC (effective 2023-03-01).

Action: entry
Agreement: collaboration
Counterparty: SC Culinary LLC
Effective: 2023-03-01

Exact text from the filing

Kisses From Italy Inc., a Florida corporation (the “Company”) entered into a Strategic Alliance Agreement, effective as of March 1, 2023 (the “Agreement”), with SC Culinary LLC, a New York limited liability company (“SC Culinary”).

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Kisses From Italy Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-001239

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