Pizza Inn Announces Multi-unit Agreement In Bahrain
20 Unit Development Plan Extends Chain's International Growth Strategy
April 17, 2008 // Franchising.com // The Colony, Texas — Pizza Inn, Inc. (NASDAQ:PZZI) today announced the signing of a multi-unit development agreement to open up to 20 new units in the country of Bahrain over the next 10 years in a continuation of the brand's expansion throughout the Middle East. Pizza Inn has awarded a territorial franchise agreement to the Attyab Al Bahrain Catering Company and Eastern Retail Services Company W.L.L., both owned by the Sheikh Terki Al Khalifa Group of Companies. Initially, the group is converting its former Domino's Pizza® locations to Pizza Inn restaurants in Bahrain.
The Sheikh Terki Al Khalifa Group of Companies is led by Sheikh Terki Al Khalifa, owner of the Crepe Café franchise & partner in Cementatia General Trading, UAE since 2006.
"We are proud to partner with the Al Attyab Al Bahrain Catering Company in Bahrain," stated Ward Olgreen, Senior Vice-President of Worldwide Franchising. "Their experience in the pizza category combined with our commitment to quality and customer satisfaction makes this a very formidable partnership."
"We are extremely excited about our future with Pizza Inn," stated Sheikh Terki Al Khalifa. "We know that families in Bahrain will love every aspect of Pizza Inn, whether they enjoy our made-from-scratch pizzas at home or in our restaurants."
The new partnership with the Al Khalifa Group will also utilize the support services of United Food Company, Pizza Inn's master licensee for Saudi Arabia and Qatar and a part of the Abdulla Abunayyan Group of Companies.
Pizza Inn is actively seeking new franchisees for both international and domestic development. To learn more about these opportunities, go to www.pizzainn.com for details and contact information.
Domino's Pizza® is a registered trademark of Domino's Pizza, Inc.
Certain statements in this press release, other than historical information, may be considered forward-looking statements, within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those anticipated, estimated
or expected. Among the key factors that may have a direct bearing on Pizza Inn's operating results, performance or financial condition are its ability to implement its growth strategies; success of its franchise operations; national, regional and local economic conditions affecting the restaurant industry; competition within the restaurant industry; restaurant sales cannibalization; negative publicity; fluctuations in quarterly results of operations, including seasonality; government regulations; weather; and commodity, insurance and labor costs.
Pizza Inn, Inc. (www.pizzainn.com) is headquartered in The Colony, Texas, along with its restaurant services division, Norco Restaurant Services Company. Pizza Inn franchises approximately 334 restaurants and owns one restaurant with annual chain-wide sales of approximately $145 million.