35 Unit Development Plan Set For Bangladesh
May 07, 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 35 new units starting in Dhaka, the capital city of Bangladesh. Pizza Inn has awarded a territorial master license agreement to Mohammed Foods and Allieds Private Limited Company, both owned and operated by Sak Ekramuzzaman of Dhaka.
"This is a significant step toward our goal of brand expansion into Asia," stated Ward Olgreen, Sr. Vice President of Worldwide Franchising for Pizza Inn. "Mr. Ekramuzzaman and his management team bring a wealth of leadership and business acumen to the Pizza Inn brand in a region of the world where the growth opportunities seem limitless."
Mohammed Foods and Allieds Private Limited Company own and operate several businesses in Bangladesh as well as abroad, including R.A.K. Ceramics.
"We look forward to our partnership with Pizza Inn," stated Mr. Ekramuzzaman. "The city of Dhaka will soon learn about Pizza Inn's commitment to quality and service, whether they are dining in our restaurants or enjoying their made-fromscratch pizzas at home."
The development agreement will utilize the support services of United Food Company, Pizza Inn's master licensee for Saudi Arabia and Qatar. United Food Company acts as Pizza Inn's Franchising and Training hub for the region. 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.
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.