Pizza Inn Increases Credit Facility to Expand Company Store Growth of Its Concepts
THE COLONY, Texas, Oct. 31, 2011 // GLOBE NEWSWIRE // -- Pizza Inn Holdings, Inc. (Nasdaq:PZZI) today announced an amendment and restatement of its term loan credit facility with Amegy Bank that expands the term facility by $4.0 million, providing additional capacity for continued growth of company-owned Pie Five Pizza Co. and Pizza Inn stores.
"Amegy Bank has been a valuable partner in executing the growth plan of our heritage buffet-style restaurant concept and in the growth and development strategy of our new Pie Five fast casual concept," said Charlie Morrison, president and CEO of Pizza Inn. "The expansion in the facility demonstrates confidence from Amegy and Pizza Inn in our new fast casual Pie Five restaurant concept."
"Amegy Bank is excited to build upon our existing relationship with Pizza Inn as it continues to grow its business and expand its concepts to include the new Pie Five restaurants," said Amegy Bank Dallas CEO and President Matt Hildreth. "Supporting growing businesses as they work to strengthen our economy is a big priority for us at Amegy and our partnership with Pizza Inn demonstrates that."
About Pizza Inn Holdings, Inc
Pizza Inn Holdings, Inc. is an owner, franchisor and supplier of a system of restaurants operating domestically and internationally under the trademarks "Pizza Inn" and "Pie Five Pizza Co." The Company and its distribution division, Norco Restaurant Services Company, are headquartered in The Colony, Texas. The Company's common stock is listed on the Nasdaq Capital Market under the symbol "PZZI." For more information, please visit www.pizzainn.com.
About Amegy Bank of Texas
Amegy Bank of Texas is one of the fastest growing banks in Texas. With assets of more than $11 billion, local decision making and a history of relationship banking, Amegy has the resources to serve leading Texas companies as a source of capital as well as provide efficient and effective treasury management, international and investment services. The Bank, with more than 80 locations in the state, specializes in small business banking as well as private financial management and trust services for families and individuals, and retail and mortgage banking services.
Nancy Ellefson, VP of Finance
Pizza Inn, Inc.