Papa Bello Enterprises Closes the Acquisition of Royal India Express
SAN DIEGO // PRNewswire-FirstCall // -- Papa Bello Enterprises, Inc (Pink Sheets: PAPA) announced today that the company has closed its acquisition of Royal India Express (RIE), a San Diego based, fast casual, Indian restaurant concept located in the Horton Plaza Shopping Mall in the Gas Lamp Quarter of downtown San Diego. Royal India Express is another successful restaurant concept from the Kambo Brothers, which also created and manages The Kebab Cafe, one of Papa Bello Enterprises restaurant concepts. RIE offers a competitive business model, taking full advantage of fast casual restaurant dining as well as catering, allowing the restaurant to bring its products out of the restaurant and into the home or business.
With the closing of this acquisition, Papa Bello Enterprises can begin to tap into the $14 Billion Dollar Indian Restaurant franchise industry, one of the largest in the world. Royal India Express is currently researching several possible locations in the Southern California area and anticipates opening multiple new locations by the end of 2010.
Jim Price, CEO of Papa Bello Enterprises states, "As we close this acquisition of Royal India Express, we open up a number of exciting opportunities for our company. With our 4 dynamic concepts, we now have the ability to offer perspective restaurateurs a wide variety of options with which to build their business. Each demographic and geographic area has its own characteristics and we now have suitable offerings for every opportunity."
About Papa Bello Enterprises
Founded in 2005, Papa Bello Enterprises is a San Diego, California based corporation that owns, operates, and franchises food service restaurants in the United States and abroad. The company was founded on the principles of providing the consumer with the highest standards of quality, value, and service.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE Papa Bello Enterprises, Inc
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