SOUTHFIELD, Mich., Aug. 29, 2012 // GLOBE NEWSWIRE // -- Diversified Restaurant Holdings, Inc. (OTCQB:DFRH) ("DRH" or the "Company"), the owner, operator, and franchisor of the unique, full-service, ultra-casual restaurant and bar Bagger Dave's Legendary Burgers Tavern® ("Bagger Dave's") and a leading franchisee for Buffalo Wild Wings® ("BWW"), announced today it has signed a long-term lease for a new BWW location, scheduled to open in mid 2013 in Sault Saint Marie, Michigan, at the newly renovated Cascade Crossing Shopping Center.
T. Michael Ansley, President and CEO stated, "We believe the Cascade Crossing location is an ideal location for us as it epitomizes everything we look for when determining a location, namely, high traffic areas."
Sault Saint Marie lies on the northeastern end of Michigan's Upper Peninsula, and is the second most populous city in the area. Individuals come from all around the world to visit the City each year and to view the ships passing through the American Soo Locks, one of the world's busiest waterways. The City is also home to the annual International 500 Snowmobile Race which draws participants and spectators from all over the U.S. and Canada.
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 and three BWW restaurants scheduled to be opened by year end 2012. 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, hand-dipped milkshakes, and a selection of craft beer and wine. 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 opened 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 and the announced acquisition of eight BWW restaurants in Illinois and Indiana, suggests that the Company will operate 46 BWW by 2017.
The information made available in this news release contains forward-looking statements which reflect DRH's current view of future events, results of operations, cash flows, performance, business prospects and opportunities. Wherever used, the words "anticipate," "believe," "expect," "intend," "plan," "project," "will continue," "will likely result," "may," and similar expressions identify forward-looking statements as such term is defined in the Securities Exchange Act of 1934. Any such forward-looking statements are subject to risks and uncertainties and the Company's actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities could differ materially from historical results or current expectations. Some of these risks include, without limitation, the impact of economic and industry conditions, competition, food and drug safety issues, store expansion and remodeling, labor relations issues, costs of providing employee benefits, regulatory matters, legal and administrative proceedings, information technology, security, severe weather, natural disasters, accounting matters, other risk factors relating to our business or industry and other risks detailed from time to time in the Securities and Exchange Commission filings of DRH. Forward-looking statements contained herein speak only as of the date made and, thus, DRH undertakes no obligation to update or publicly announce the revision of any of the forward-looking statements contained herein to reflect new information, future events, developments or changed circumstances or for any other reason.
Deborah K. Pawlowski
Kei Advisors LLC
Chief Financial Officer