Einstein Bros. Bagels Announces Signing of Franchise Development Agreement
Franchisee to Open Four Restaurants in South Carolina and Georgia During Four-Year Period Beginning in 2008
LAKEWOOD, Colo., March 5 // PRNewswire-FirstCall // -- Einstein Noah Restaurant Group, Inc. (Nasdaq: BAGL) is pleased to announce the signing of a multi-unit development agreement with Wendy and Skyler Steele to franchise Einstein Bros.(R) Bagels restaurants and continue to expand the popular brand.
The mother and son team plan to open four Einstein Bros. restaurants within the next four years in certain counties in South Carolina and Georgia. In South Carolina, the team has secured the rights to open restaurants in Aiken, Edgefield or Barnwell counties. The team can also open restaurants within Richmond, Columbia, McDuffie Burke or Lincoln counties in Georgia.
"We are pleased to become a part of the Einstein Bros. family and look forward to bringing the popular Einstein Bros. brand to the residents of these counties," Wendy and Skyler Steele said. "The brand has so much to offer with its variety of great tasting menu items made with high-quality ingredients and quick casual service."
When the franchised restaurants open their doors, neighbors and guests in the communities will be able to fill their breakfast, lunch and snack cravings with Einstein Bros. Bagels' menu, featuring award-winning bagels and shmear varieties, made-to-order breakfast and lunch sandwiches, Darn Good Coffee(R) and specialty coffee drinks, hearty soups, fresh innovative salads, baked goods and decadent desserts.
"Wendy and Skyler Steele are a great fit for the Einstein Bros. brand, and we are committed to supporting them and all of our franchisees, present and future, as the system continues to grow," said Kevin Kruse, vice president of franchise development. "Einstein Noah Restaurant Group is devoted to bringing the Einstein Bros. brand to as many guests as possible through its expansion plans."
About Einstein Noah Restaurant Group
Einstein Noah Restaurant Group Inc. is a leading company in the quick casual restaurant industry that operates locations primarily under the Einstein Bros.(R) Bagels and Noah's New York Bagels(R) brands and primarily franchises locations under the Manhattan Bagel(R) brand. The company's retail system consists of more than 600 restaurants, including more than 100 license locations, in 35 states plus the District of Columbia. It also operates a dough production facility. The company's stock is traded under the symbol BAGL. Visit http://www.einsteinnoah.com for additional information.
Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "estimate," "project," "plan to," "is designed to," "expectations," "intend," "indications," "expect," "should," "would," "believe," "target", "trend" and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, which could cause the actual results or achievements to differ from those expressed or implied by such forward-looking statements. These factors include but are not limited to the following: the ability of Wendy and Skyler Steele to build, open and successfully run Einstein Bros. locations is dependent upon, among other factors, its ability to find suitable locations, reach acceptable lease terms, have adequate capital, find available contractors, obtain licenses and permits, locate and train staff appropriately and properly manage the new restaurants. These and other risks are more fully discussed in the Company's SEC filings.
Contact: Peter Jakel, (303) 568-8113
SOURCE Einstein Noah Restaurant Group, Inc.