Diversified Restaurant Holdings Opens Newest Bagger Dave's® Location
Location in Grandville, Michigan, is Concept's Seventh Location First Franchised Location Scheduled to Open in Mid 2012
SOUTHFIELD, Mich., May 15, 2012 // GLOBE NEWSWIRE // -- Diversified Restaurant Holdings, Inc. (OTCBB:DFRH) ("DRH" or the "Company"), the owner, operator, and franchisor of the unique, full-service, ultra-casual restaurant and bar Bagger Dave's Legendary Burger Tavern® ("Bagger Dave's") and a leading franchisee for Buffalo Wild Wings® ("BWW"), announced that it officially opened its seventh Bagger Dave's location at The Grandville Marketplace in Grandville, Michigan on Sunday, May 13, 2012.
Michael Ansley, President and CEO of DRH, commented, "Grandville is one of the oldest suburbs of Grand Rapids, which is the second largest city in Michigan, so we felt that it was a natural option to strategically expand the Bagger Dave's concept."
Bagger Dave's offers a full-service, family-friendly restaurant and bar with a casual, comfortable atmosphere. The menu features the ability for each customer to create their own "legendary" fresh (never frozen) burger, accompanied by more than 30 toppings from which to choose, fresh-cut fries, and hand-dipped milkshakes. Guests can also enjoy a glass of wine hand selected by a Master Sommelier or choose from a wide variety of local craft beers from Michigan breweries. The Company currently owns and operates seven Bagger Dave's restaurants in Michigan, with three additional corporate-owned restaurants and one franchise location scheduled to open in 2012.
Mr. Ansley noted, "Our plan is to continue building on the momentum we've built since our initial concept launch in January 2008. The overwhelming response we have received on the Bagger Dave's concept has led us on an aggressive path to pursue additional growth opportunities through a combination of corporately-owned and franchised locations. Additionally, we are committed to expanding our Buffalo Wild Wings operations in Michigan and Florida in fulfillment of our 32-store Area Development Agreement with franchisor Buffalo Wild Wings, Inc., with two additional stores currently under construction and another 14 more locations planned over the next five years."
About Diversified Restaurant Holdings
Diversified Restaurant Holdings, Inc. ("DRH" or the "Company") is the owner, operator, and franchisor of the unique, full-service, ultra-casual restaurant concept, Bagger Dave's Legendary Burger Tavern® ("Bagger Dave's") and is a leading Buffalo Wild Wings® ("BWW") franchisee. Between the two concepts, the Company currently operates 29 restaurants in Michigan and Florida, with an additional four Bagger Dave's (three corporate owned and one franchise) and two BWW restaurants currently under construction. The Company routinely posts news and other important information on its Web site at www.diversifiedrestaurantholdings.com.
Bagger Dave's offers a full-service, family-friendly restaurant and bar with a casual, comfortable atmosphere. The menu features freshly-made burgers (never frozen), accompanied by more than 30 toppings from which to choose, fresh-cut fries, and hand-dipped milkshakes. Guests can also enjoy a glass of wine hand selected by a Master Sommelier or choose from a wide variety of local craft beers from Michigan breweries. Signature items include Sloppy Dave's BBQ®, Train Wreck Burger®, and Bagger Dave's Amazingly Delicious Turkey Black Bean Chili®. The Bagger Dave's concept emphasizes local flair by showcasing historical photos of the city in which each restaurant resides and features an electric train that runs above the dining room and bar areas. Currently, there are seven corporate-owned locations in the state of Michigan and an executed area development agreement to franchise six Bagger Dave's in five states outside of Michigan. Bagger Dave's first franchisee will open in June 2012 in Cape Girardeau, Missouri. DRH is approved to franchise Bagger Dave's in the states of Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, and Wisconsin. For more information, visit www.baggerdaves.com.
DRH operates 22 BWW restaurants: 14 in Michigan and eight in Florida. The Company continues to build new BWW restaurants in fulfillment of its 32-store Area Development Agreement ("ADA") with franchisor Buffalo Wild Wings, Inc. (Nasdaq:BWLD). This agreement, in addition to the six BWW restaurants opened prior to the ADA, suggests that the Company will operate 38 BWW restaurants in Michigan and Florida by 2017.
Safe Harbor Regarding Forward Looking Statements
This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. Such statements consist of words like "anticipate," "expect," "project," "continue" and similar words. These statements are based on the Company's and its subsidiaries' current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, include consumer acceptance of the Company's products, its ability to deliver new products, the success of its strategy to broaden market channels and the relationships it has with retailers and distributors. The risks associated with any investment in CHDT, which is a small business concern and a "penny-stock Company" and, as such, a highly risky investment suitable for only those who can afford to lose such investment, should be evaluated together with the risks and uncertainties more fully described in the Company's Annual and Quarterly Reports filed with the Securities and Exchange Commission. DRH undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Deborah K. Pawlowski
Kei Advisors LLC
Chief Financial Officer
Diversified Restaurant Holdings, Inc.