Convenience and 'Cravability' Spur Record Growth for Einstein Bros.(R) Bagels Licensed Locations
22 Opened through Third Quarter in 2009; Seven Planned for Remainder of Year and 30-45 in 2010
November 18, 2009 // Franchising.com // Lakewood, Colo. – Einstein Bros. Bagels is scoring a trifecta with consumers and food service groups alike, hitting on the three elements that distinguish the brand as a preferred dining option: taste, freshness and convenience.
As a result, the nationwide expansion of the popular quick-casual bakery chain's licensed locations is reaching new heights.
"When dining management groups decide which brands they want in their facilities, we are increasingly becoming a top choice," said Jeff O'Neill, chief executive officer of Einstein Noah Restaurant Group, Inc. (Nasdaq: BAGL), the brand's parent company. "We are a strong concept for reputable organizations such as ARAMARK, Sodexo, Compass Group and AAFES because we offer quality, freshness and convenience where portability and affordability are essential."
Through the third quarter of this year, Einstein Bros. Bagels has already opened 22 licensed locations in a variety of venues, including universities, healthcare facilities and military bases. The company has slated up to thirteen more stores to open during the fourth quarter, plus the company has plans to open another 30 to 45 licensed restaurants in 2010.
Ten new licensed stores opened in the third quarter of 2009. The locations include: the Medical School Building at Temple University in Philadelphia, Pa.; the Humanities Building at the University of Louisville in Louisville, Ky.; the Keathly University Center at Middle Tennessee State University in Murfreesboro, Tenn.; the Health Science Building at the University of South Alabama in Mobile, Ala.; the Adams Center at Troy State University in Troy, Ala.; the Gengras Student Center at the University of Hartford in West Hartford, Conn.; Schwob Memorial Library at Columbus State University in Columbus, Ga.; Saginaw Valley State University in University Center, Mich.; Kilpatrick Library at the University of Central Missouri in Warrensburg, Mo.; and the Central Shared Use Building at FDA Headquarters in Silver Spring, Md.
"Einstein Bros. has proven to be a big hit on campuses where people are on the move," said O'Neill. "Our menu is unlike any other with a huge variety of freshly baked bagels, fresh-prepared sandwiches and sweets, and delicious brewed coffees that are all easy to take on the go."
By the end of 2009, the company plans to have approximately180 licensed Einstein Bros. locations across the United States, along with 500-plus corporate and franchised stores across its three brands.
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 more than 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.
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," "plans to," "has slated," "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: plans to open licensed stores are subject to a variety of factors including reaching agreements with prospective licensees and the ability of licensees to find suitable locations, reach acceptable lease terms, have adequate capital, find available contractors, build the locations, obtain licenses and permits, locate and train staff appropriately and open new restaurants. These and other risks are more fully discussed in the Company's SEC filings.
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