UFood Restaurant Group Announces 26 Unit Area Development Agreement for Global Military Base Expansion With MBUF, LLC
BOSTON, MA--(Marketwire - Jan 25, 2012) - UFood Restaurant Group, Inc. (OTCBB: UFFC) announced today that the company has signed an agreement for global military base development of 26 UFood Grill units with MBUF, LLC, a private investment group of military veterans and a subsidiary of Dark Horse Capital Partners.
The venture will launch with the upcoming opening of the first of three UFood Grills at Aberdeen Proving Ground military base in Maryland. Construction is underway at the first unit, with an estimated opening in March 2012 and closely followed by the opening of two additional units.
"As we enter the military with our upcoming opening at Aberdeen Proving Ground, we are setting the stage for growth in this important channel of expansion with this agreement," said UFood Chairman and CEO George Naddaff. "MBUF is comprised of a group of experienced veterans who understand the needs of the military and are well positioned to lead us in identifying further opportunities in the military channel. We look forward to opening Aberdeen together as we map out further military base locations for UFood."
"The military has had a great response to the UFood Grill concept," said Francis L. Shea, managing partner, MBUF, LLC. "As a veteran myself, I know how important a balanced diet is to military fitness. By offering a healthy fast casual alternative to fast food, we believe that UFood will serve both the nutritional and the lifestyle needs of our military and their families, and their overall health."
The place where "delicious meets nutritious," UFood Grill is committed to offering consumers food that tastes great, is lower in calories and fat and, wherever possible, serves meals that are antibiotic and hormone-free, gluten-free as well as natural, grass-fed beef and cage-free eggs. UFood boasts a wide-ranging menu that includes lean burgers, rice bowls, salads, wraps, paninis and smoothies. In addition to airport locations in Boston, Cleveland and Dallas, construction is underway at two locations in the Salt Lake City airport which will open in April of this year.
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 also founded two of the first educational day care centers in the United States, Living and Learning Centers and Mulberry Child Care Centers, both of which were sold to KinderCare®. Mr. Naddaff has assembled a veteran management team at UFood Grill 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.
UFood Restaurant Group, Inc.
Charles A. Cocotas