Famous Dave's Franchise Expands Into Hawaii With Area Development Agreement for Three New Locations in the Hawaiian Islands
MINNEAPOLIS, Minn. (GlobeNewswire via COMTEX) -- Famous Dave's of America, Inc. (Nasdaq:DAVE) President and CEO Christopher O'Donnell announced today that BBQ Restaurants of Hawaii has purchased the right to franchise three Famous Dave's Legendary Pit Bar-B-Que(R) restaurants in the Hawaiian islands. The markets covered by the agreement include Hawaii, Kauai, Maui, and Oahu. The first location is anticipated to open by the end of 2010.
BBQ Restaurants of Hawaii is headed up by Ajay Keshap, who is currently a Denny's franchise owner in Hawaii and California.
"We are thrilled to welcome Ajay Keshap and his team at BBQ Restaurants of Hawaii to our family of Famous Dave's restaurants. The hospitality and restaurant expertise of Ajay and his executives is an ideal fit and they have an in-depth knowledge of the market, as they currently operate Denny's franchises in both Hawaii and California," said Christopher O'Donnell, President and CEO of Famous Dave's. "As Famous Dave's continues to strategically expand and share award-winning BBQ nationwide, entering the Hawaiian market has been of great interest to us. The demographic mix of locals and tourists creates year round demand for quality restaurants, and the Hawaiian culinary culture of luaus and pig roasts has a similar flavor profile to the Famous Dave's Legendary Pit BBQ menu."
Ajay Keshap, owner of BBQ Restaurants of Hawaii said, "Our team evaluated several different franchise concepts and there was no question that Famous Dave's was our choice for a partner. Famous Dave's has earned a reputation as an industry leader, thanks to a number of factors including phenomenal award-winning food, an outstanding management team, and an established brand that has proven to be popular nationwide with consumers. We are excited to bring Famous Dave's to Hawaii and believe the locals and tourists alike will embrace this concept."
About Famous Dave's
Famous Dave's of America, Inc. (Nasdaq:DAVE) develops, owns, operates and franchises BBQ restaurants. The award-winning BBQ restaurants are known for barbequed and grilled meats, sandwiches, side items, salads and unique desserts. As of today, the company owns 53 locations and franchises 125 additional units in 36 states, including Times Square in New York City. Famous Dave's has won over 400 awards for everything from best ribs to best BBQ sauce to best cookbook. The Famous Dave's family also includes a Famous Dave's Rib Team, which has a stellar track record and has been ranked in first place at competitions throughout the United States, including the Best in the West Nugget Rib Cook-Off in Sparks, Nevada; the Great American Rib Cook-Off in Cleveland, Ohio; the Southern Florida Championship Cook Off in Jupiter, Florida and many, many more.
Statements in this press release that are not strictly historical, including but not limited to statements regarding the timing of our restaurant openings and the timing or success of our expansion plans, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, which may cause the company's actual results to differ materially from expected results. Although Famous Dave's of America, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectation will be attained. Factors that could cause actual results to differ materially from Famous Dave's expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, franchisee performance, changes in local or national economic conditions, availability of financing, governmental approvals and other risks detailed from time to time in the company's SEC reports.
SOURCE: Famous Dave's of America
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