Einstein Bros. Bagels Inks Multi-Unit Franchise Development Agreement
Franchisee Plans to Open Three Restaurants in Five Years in Tyler, Texas
LAKEWOOD, Colo., June 18 // PRNewswire-FirstCall // -- Einstein Noah Restaurant Group, Inc. (Nasdaq: BAGL) announced today the signing of a multi-unit development agreement with Wilbur and Matt McKinney to franchise Einstein Bros.(R) Bagels restaurants and continue to expand the popular brand.
Based in Tyler, Texas, the McKinneys plan to open three Einstein Bros. restaurants within the next three years in the Tyler market. The Einstein Bros. locations will be part of the family's franchise portfolio, which includes the Smoothie King brand.
"As experienced franchise investors, we are excited to be adding a brand such as Einstein Bros. to our investment portfolio," said Wilbur McKinney. "With a distinctive flare to its look and a variety of craveable menu items that are made from high quality ingredients, we couldn't be more pleased about becoming multi-unit, multi-brand franchise owners with this concept."
When the franchised restaurants open their doors, neighbors and guests in Tyler will be able to fill their breakfast, lunch and snack cravings with Einstein Bros. Bagels' menu, featuring award-winning bagels and shmear varieties, made-to-order breakfast and lunch sandwiches, Darn Good Coffee(R) and specialty coffee drinks, hearty soups, fresh innovative salads, baked goods and decadent desserts.
"The McKinneys are a great example of the type of experienced restaurant operators that have signed on to open Einstein Bros. franchise locations," said Kevin Kruse, vice president of franchise development for Einstein Noah Restaurant Group.
Paul Carolan, senior vice president of franchising and licensing for Einstein Noah Restaurant Group, added, "We believe that executing our aggressive growth phase with franchise partners such as Wilbur and Matt is a sign that we are attracting high quality investors."
About Einstein Noah Restaurant Group
Einstein Noah Restaurant Group Inc. is a leading company in the quick casual restaurant industry that operates and licenses locations primarily under the Einstein Bros. and Noah's New York Bagels brands and primarily franchises locations under the Manhattan Bagel brand. The company's retail system consists of approximately 600 restaurants in 36 states and the District of Columbia. It also operates a dough production facility. The company's stock is traded on the NASDAQ under the symbol BAGL. Visit http://www.einsteinnoah.com for additional information.
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" 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 the developers to build, open and successfully run Einstein Bros. locations is dependent upon, among other factors, 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, Inc.