Business Services Industry
UFood Restaurant Group, Inc. Announces 38 Store Franchise Agreement
Business Wire, April 2, 2008
BOSTON -- UFood Restaurant Group, Inc. (OTCBB: UFFC), a franchisor and operator of fast-casual food service restaurants and nutritional product retail stores, today announced the sale of a multi-unit restaurant development to a franchise developer in the Rocky Mountain states.
The franchisee has entered into a 5 1/2 year development agreement to open thirty-eight UFood Grills in Colorado, Utah, Montana, Idaho, and Wyoming. The agreement gives the developer the right to open in any location deemed viable for the initial exposure of UFood Grill to the consumers in those states. The first locations are expected to open in high profile sites in Salt Lake City and Denver.
George Naddaff, Chairman and CEO of UFood Grill comments, "We are excited to bring in an experienced developer to open thirty-eight of our restaurants in the northwest region. This represents the significant progress of UFood Grill's franchising program and the continued success of building a national brand."
The fast-casual dining segment is led by companies such as Chipotle Mexican Grill (NYSE: CMG) and Panera Bread Company (Nasdaq: PNRA), and caters to customers who desire the convenience of a fast-food chain and are willing to pay a premium for higher quality, differentiated menu items.
For more information, go to UFood Grill's newly updated web site, http://www.ufoodgrill.com/.
About UFood Restaurant Group, Inc.
Headquartered in Boston, MA, UFood Restaurant Group, Inc. is a franchisor and operator of fast-casual food service restaurants with an integrated retail store that sells nutritional products for a dual revenue stream business. UFood Grill offers a healthy lifestyle alternative to consumers in the fast-casual restaurant space and is positioned to become a leading player in the "better-for-you" quick serve restaurant category. The Company is led by franchise innovator George Naddaff, who founded Boston Market and led the franchising of several companies including Sylvan Learning Center and Ranch*1. Mr. Naddaff has a veteran management team with a record of success in the franchise market. UFood is currently launching a growth plan to franchise nationwide.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
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