UFood Restaurant Group Awarded Contract to Build and Operate Two Units at Aberdeen Proving Ground in Maryland
Contract to Open New Military Trade Channel for Company
BOSTON, MA--(Marketwire - March 7, 2011) - UFood Restaurant Group Inc. (OTCBB: UFFC) announced today that the Army and Air Force Exchange Service (AAFES) has awarded the company a contract to build and operate two UFood Grill units at Aberdeen Proving Ground (APG) in Maryland. The restaurants are projected to open in May 2011.
Established in 1917, Aberdeen Proving Ground (APG) was founded as a site for material development and testing for the U.S. Army. Employing more than 16,000 civilian, military and contractor employees, APG's workforce focuses on technical achievements in military intelligence, medical research, engineering and computer technology. This 72,000 acre site houses 70 tenants with nearly 15 million square feet of space in more than 2,000 buildings.
"We are excited about the opportunity to bring the UFood concept to our men and women in the military, opening a new channel for expansion of our company," said UFood CEO George Naddaff. "We know that our ability to deliver food that is both great tasting and good for you -- and served quickly -- will be an ideal fit for the demands of the military lifestyle."
UFood Grill is committed to offering consumers food that is both delicious and nutritious, with a wide-ranging menu that includes lean burgers, rice bowls, salads, wraps and smoothies. The company currently has eight locations in Boston, Dallas and Cleveland, including airports (Logan Airport, Dallas Ft. Worth International Airport, and Cleveland Hopkins International Airport), urban areas and Parkland Memorial Hospital in Dallas.
The company recently announced the establishment of a Health & Nutrition Advisory Panel, comprised of current and retired military members, to advise the company as it continues to explore development opportunities on military bases. UFood plans to expand the panel in line with its growth in other trade channels. Among other activities, the volunteer panel will convene bi-annually to review menu development and discuss trends in health, nutrition and diet, in particular, the dietary needs of the military.
Additionally, UFood Grill has been listed by the U.S. Small Business Administration (SBA) on its official Franchise Registry. The Franchise Registry is a compilation of franchise systems that have had their franchise agreement reviewed by the SBA, thereby materially expediting the loan approval process for franchise investors and ensuring a consistent eligibility decision. The list of approved systems is available at www.FranchiseRegistry.com.
Among the SBA's programs is the Patriot Express Pilot Loan Initiative for veterans and members of the military community who want to establish or expand small businesses. The SBA and its resource partners are focusing additional efforts on counseling and training to augment this loan initiative, making it more accessible and easy to use. Eligible military community members include veterans, reservists, National Guard members and their spouses. More information is available at http://www.sba.gov/content/express-programs.
About UFood Restaurant Group, Inc.
Headquartered in Boston, Mass., UFood Restaurant Group, Inc. is a franchisor and operator of fast-casual food service restaurants. UFood Grill offers a healthy lifestyle alternative to consumers in the fast-casual restaurant space and is positioned to become a leading player in the "better-for-you" quick-serve restaurant category. The Company is led by franchise innovator George Naddaff, who founded Boston Market and led the franchising of several companies including Sylvan Learning Center and VR Business Brokers. Mr. Naddaff has assembled a veteran management team with a successful record in the franchise market. UFood is currently launching a growth plan to franchise nationwide. To learn more, visit www.ufoodgrill.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.