Pizza Inn Announces Multi-Unit Agreement In Oman
12 Unit Development Plan Extends Chain's Middle East Growth Strategy
July 30, 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 12 new units in the country of Oman 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 Global Food Company LLC, owned and operated by Mr. Aqeel Sulaiman of Muscat. "Global Food Company brings a great deal of business and operational experience to the Pizza Inn brand," stated Ward Olgreen, Senior Vice-President of Worldwide Franchising. "With recent development agreements signed in Kuwait and Bahrain, the new partnership with Global Food Company further solidifies the brand's increasing market share in a growth region of the world."
The new partnership with Global Food Company will also utilize the support services of United Food Company, Pizza Inn's master licensee for Saudi Arabia and Qatar. United Food Company will serve as the training hub for the new Pizza Inn restaurants in Oman as well as others in the region.
"Families in Oman will love Pizza Inn's commitment to made-from-scratch pizzas and quality service," stated Mr. Sulaiman. "We look forward to this new partnership and the opportunities for growth that it provides." Pizza Inn is actively seeking new franchisees in Egypt, Jordan, Lebanon, Cyprus and Tunisia as well as other parts of the world. 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 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."