Famous Dave's Expands Area Development Agreement With Savory Investments, LLC
MINNEAPOLIS, Nov 9, 2011 (GlobeNewswire via COMTEX) -- Famous Dave's of America, Inc. (Nasdaq:DAVE) announced today that the Company has expanded its area development agreement with Savory Investments, LLC to include the right to purchase five additional Famous Dave's Legendary Pit Bar-B-Que(C) franchise restaurants in California. The California markets covered by the new agreement include Solano, Marin, Sonoma, Monterey and Santa Cruz. Under the original area development agreement announced in December 2009, Savory Investments, LLC purchased the right to franchise four restaurants in California and Nevada. Since entering this agreement, the franchise operator has opened one Famous Dave's Legendary Pit Bar-B-Que(C) location in Reno, Nevada.
Headquartered in Reno, Savory Investments, LLC was founded in 2011 by brothers Rory and Sean O'Neal. In addition to their Famous Dave's operations, the O'Neal brothers, operating as different entities, have additional experience in the foodservice and hospitality industry, including companies such as Sysco Foodservice, California Cafe, Crocodile Cafe and Paragon Steakhouse.
"We are pleased to expand our relationship with Savory Investments following their successful opening in Reno earlier this year," said Christopher O'Donnell, President and CEO of Famous Dave's. "Rory and Sean are committed to broadening Famous Dave's footprint in the California market as they consistently deliver a positive experience to our patrons, which exemplifies our brand. We couldn't ask for a better franchise partner."
Click here to view the press release issued in March 2011 announcing Savory Investments franchise opening in Nevada and here to view the original area development news release issued in December 2009.
Famous Dave's offers a hearty roundup of award-winning ribs, hickory smoked meats, and other BBQ favorites, such as St. Louis-Style Ribs brushed with Rich & Sassy(R) Sauce, Texas Beef Brisket, Georgia Chopped Pork, Country-Roasted Chicken, Wilbur Beans, Creamy Coleslaw and Dave's Famous Bread Pudding. A Lil' Wilbur Kid's Menu includes classic kid favorites, such as Macaroni & Cheese, and Chicken Tenders.
For more information, including a full menu and other restaurant locations, please visit www.famousdaves.com.
About Famous Dave's
Famous Dave's of America, Inc. (Nasdaq:DAVE) develops, owns, operates and franchises barbeque restaurants. As of the end of third quarter 2011, the company owns 53 locations and franchises 131 additional units in 37 states. The menu features award-winning barbequed and grilled meats, a large selection of salads, side items and sandwiches, and unique desserts. Famous Dave's has won over 500 awards for everything from best ribs to best Bar-B-Que sauce to best cookbook. For more information, please visit www.famousdaves.com.
The Famous Dave's of America, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7726
Statements in this press release that are not strictly historical, including but not limited to statements regarding the timing of our restaurant openings and the timing or success of our expansion plans, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, which may cause the company's actual results to differ materially from expected results. Although Famous Dave's of America, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectation will be attained. Factors that could cause actual results to differ materially from Famous Dave's expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, franchisee performance, changes in local or national economic conditions, availability of financing, governmental approvals and other risks detailed from time to time in the company's SEC reports.
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SOURCE: Famous Dave's of America
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