UFood Grill Highlights Franchise Growth Strategy
BOSTON --(BUSINESS WIRE)-- UFood Restaurant Group, Inc. (OTCBB: UFFC) is pleased to report its growth strategy for new franchise development is proceeding as anticipated with 8 UFood Grill locations currently open in Massachusetts, Texas, and Ohio. Additionally, the Company has teamed with various seasoned multi-unit food franchise operators who will expand the UFood Grill brand into markets at strategic locations that primarily serve the general public and consumers who are seeking a healthy alternative food choice at airports, colleges, hospitals and travel plazas. Click here to view the Video News Release from UFood Restaurant Group, Inc. http://videoupdates.ceolive.co/ufood-grill-highlights-franchise-growth-strategy/.
"We are very pleased with the current development pace of our franchise locations," said George Naddaff, Chairman and CEO of UFood Restaurant Group. "In combination with the UFood Grill locations currently operating in some of the nation's largest airports, and through our key partnerships secured with experienced multi-unit food chain operators, UFood Grill is on track to rapidly expand its base of franchise locations primarily serving the traveling consumer. In addition, we will continue our expansion of traditional locations with franchisees in select high density markets and trade areas."
To date, UFood Grill has signed Area Development Agreements for 56 new UFood Grill outlets to develop and operate its unique and healthy fast food chain concept across the US concurrently with seasoned multi-unit food operators such as The Hudson Group, Congusto, LP, Midfield Concession Enterprises, Puente, Inc., I.L. Creations and Robinson Hill Hospitality Group.
"We are focused on identifying strategic growth models that will allow the UFood Grill healthy fast food concept to penetrate markets which are not only served by same food choices but those we believe are seeking fresh, nutritious alternatives at an attractive price," continued Mr. Naddaff. "To support this focus we are vigorously pursuing relationships with leading and experienced franchise food service operators that understand the principles of growing strong versus growing fast. In terms of performance and consumer acceptance, each location has been able to provide results beyond our internal expectations which validates our approach to introduce a unique concept into high traffic, high profile locations for the general public, business and traveling consumer marketplace."
UFood Restaurant Group is a franchisor and operator of fast-casual food service restaurants, headquartered in Boston, Massachusetts. The company is led by franchise innovator George Naddaff, who founded Boston Market and led the franchising of several companies. The UFood Grill concept was the winner of ARN's Best New Airport Concession in 2009. Travelers, airport workers and flight crews enjoy having a healthy, nutritious and quick service food option available.
About UFood Restaurant Group, Inc.
Headquartered in Boston, MA UFood Restaurant Group, Inc. is a franchisor and operator of fast-casual food service restaurants. UFood Grill offers 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 assembled a veteran management team with a successful record 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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