Companies to Open Einstein Noah Brands Inside Airports throughout the Country
LAKEWOOD, Colo., March 18 // PRNewswire-FirstCall // -- Einstein Noah Restaurant Group, Inc. (Nasdaq: BAGL) announced today that it has signed an exclusive development agreement with SSP America, to open Einstein Bros.(R) Bagels, Noah's Bagels(R) and Manhattan Bagel(R) restaurants inside U.S. Airports.
The agreement calls for SSP America to open and operate Einstein Bros., Noah's and Manhattan restaurants over the next five years in major U.S. airports. SSP is the leading operator of food and beverage brands in travel locations in 28 countries worldwide and operates a strong brand portfolio in 40 U.S. airports.
"This agreement brings together two companies with proven and growing track records in the airport dining arena," said Paul Carolan, senior vice president of franchising and licensing for Einstein Noah Restaurant Group. "Einstein Bros., Noah's and Manhattan have the wide variety of high quality menu offerings that we believe travelers are looking for while they await their departure and after they land, and SSP America is one of the premier providers of concessions for the airport market. We are very excited about the beginning of our relationship."
The popular Einstein Bros., Noah's and Manhattan brands have diverse menus that contain high-quality offerings, including hand-crafted sandwiches, home-style soups, tempting sweets, artisan roasted coffee and award-winning bagels. The more than 600 restaurants with locations in 36 states feature an atmosphere that combines the friendliness of the local neighborhood with a tradition of great tasting, quality food and hospitable service.
"We believe this development agreement with SSP America will be instrumental in delivering on our aggressive growth strategy over the next five years," said Paul Murphy, CEO of Einstein Noah Restaurant Group. "I look forward to the opening of many successful airport license restaurants through this strategic relationship between SSP America and Einstein Noah Restaurant Group."
"We are excited to work with Einstein Bros. Our mutual growth strategies complemented with Einstein Bros.' exceptional focus on product quality and service delivery will further strengthen our brand portfolio," said Les Cappetta, CEO of SSP America.
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.
SSP is the leading operator of food and beverage brands in travel locations in 28 countries worldwide. The company has been operating in airports, rail stations, motorway service areas, retail parks, conference centers and other leisure locations for more than 60 years. Around the world, SSP is synonymous with many well-known international, national, local and specialty brands, such as Caffe Ritazza, Le Train Bleu, Burger King, M&S, Bonne Journee, Pizza Hut, Caviar House & Prunier, Upper Crust and Starbucks.
SSP America operates in more than 42 airports across the USA, Canada and the Caribbean. Other third party brands in the broad portfolio include The Palm, Silver Diner, Houlihan's, Dunkin' Donuts, Panda Express, Five Guys, Chick-fil-a, Arby's, Moe's Southwest Grill, Au Bon Pain, Pizza Hut, T.G.I. Friday's, Carl's Jr., A & W and Quiznos. SSP America's brand portfolio also includes strong local icons such as Laurelwood, Pizzicato, Bill Bateman, Ram's Head, Great Dane, Las Palapas, Brew Brothers and Legends.
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 SSP America to build, open and successfully run licensed Einstein Bros. locations is dependent upon, among other factors, its ability to reach agreements with airport authorities, 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.
SOURCE Einstein Noah Restaurant Group, Inc.