Einstein Noah Restaurant Group and ARAMARK Sign Multi-Unit Development Agreement
Companies to Open Einstein Bros. Restaurants in License Locations across Country
LAKEWOOD, Colo., June 12, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Einstein Noah Restaurant Group (Nasdaq: BAGL) announced today that it has signed a strategic license development agreement with ARAMARK, to open Einstein Bros.(R) Bagels licensed locations over the next few years.
The Einstein Bros. restaurants are planned to open in selected locations in which ARAMARK provides dining solutions. As a leader providing award-winning food services on college campuses, health care facilities, sports and entertainment venues and corporate campuses nationwide, ARAMARK currently operates 42 Einstein Bros. and one Noah's restaurant.
"Our growth in the license arena has accelerated greatly over the last few years, thanks in large part to the help of ARAMARK," said Paul Carolan, senior vice president of franchising and licensing for Einstein Noah Restaurant Group. "As a leading provider of food and support services, ARAMARK is a great partner to have, especially in the college and university environment."
The popular Einstein Bros. brand has a diverse menu that contains high-quality offerings, including hand-crafted sandwiches, fresh-baked breads, home-style soups, tempting sweets, artisan-roasted coffee and award-winning bagels.
There are more than 400 company, franchised and licensed Einstein Bros. restaurants across the country featuring an atmosphere that combines the friendliness of the local neighborhood with a tradition of great tasting, quality food and hospitable service.
"ARAMARK has been a strong partner over the last five years, and I'm pleased we have entered into this agreement," said Paul Murphy, CEO of Einstein Noah Restaurant Group. "I believe this agreement and the results it should generate will play a key role in our ability to meet our growth strategy over the next five years."
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. 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 approximately 600 restaurants, including more than 100 license locations, in 36 states and 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.
ARAMARK is a leader in professional services, providing award-winning food services, facilities management, and uniform and career apparel to health care institutions, universities and school districts, stadiums and arenas, and businesses around the world.
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," "will be able," "is going to be," "will play," "planned," "should generate" 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: our ability to open restaurants in ARAMARK locations and our belief that this license agreement will play a key role in our ability to meet our growth strategy are dependent upon, among other factors, ARAMARK's willingness to select Einstein Bros. for licensed locations and 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.
SOURCE Einstein Noah Restaurant Group