Pizza Inn Announces Multi-unit Domestic Franchise Agreement
Six Unit Development Plan Set For Houston, Texas
May 13, 2008 // Franchising.com // The Colony, Texas – Pizza Inn, Inc. (NASDAQ:PZZI) today announced the signing of a multi-unit development agreement to open six new operations in the Houston, Texas market beginning late summer 2008. Pizza Inn has awarded the franchise agreement to Four Star Foods, a subsidiary of King Fuels, Inc. of Houston.
The development plan calls for the opening of two Pizza Inn delivery/carry-out concepts (DELCOS) and four Pizza Inn express units in the Houston market beginning August of this year. The first unit will be located at 392 N. Sam Houston Parkway in Houston as part of a co-branded food service concept.
"This is an important step in our domestic development plan," stated Ward Olgreen, Sr. Vice President of Worldwide Franchising for Pizza Inn. "Our reputation for serving a quality product coupled with King Fuels experience in the areas of co-branding and food service makes this the perfect operational and brand fit."
King Fuels operates over 40 locations and provides supplies to over 250 locations, representing six major petroleum brands.
"Four Star Foods is excited about its partnership with Pizza Inn," stated Mr. Zaki Niazi, President of King Fuels, Inc. "Our goal is to complement our convenience store operations while expanding Pizza Inn's market share within the Houston area. We feel that partnering with a brand of Pizza Inn's quality will better satisfy our convenience store consumers while creating the opportunity for new trial." Pizza Inn is actively seeking new franchisees for its domestic express and delivery convenience store programs. 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. (http://www.pizzainn.com) is headquartered in The Colony, Texas, along with its distribution division, Norco Restaurant Services Company. The Company is a franchisor and food and supply distributor to a system of franchised and company owned restaurants operating both domestically and internationally under the trade name "Pizza Inn."