JACKSONVILLE, Fla., Nov. 9, 2012 // PRNewswire // -- American Restaurant Concepts, Inc. (OTCBB: ANPZ), the operator and franchisor of America's award-winning Dick's Wings® restaurants, announced today that Fred Alexander has been appointed to the Company's Board of Directors to help lead the operational improvements and forward growth strategies for the Company.
Mr. Alexander is an accomplished business executive who currently serves as the Vice President of Business Development for Blue Victory Holdings, Inc. At Blue Victory, Mr. Alexander is responsible for the identification, acquisition and financing of branded restaurants. He also has more than 30 years of experience identifying, acquiring, developing and rehabilitating a variety of real estate assets including apartment buildings, condominiums and shopping centers.
Mr. Alexander played a pivotal role in identifying American Restaurant Concepts as a synergistic and complementary business partner for Blue Victory Holdings. He was also responsible for conducting extensive due diligence on American Restaurant Concepts and assisting in the negotiation and completion of the recently announced stock transaction between Michael Rosenberger, CEO of American Restaurant Concepts, and William Leopold, a successful money manager and private investor. As previously announced, Mr. Leopold purchased 15,530,000 shares of American Restaurant Concepts from Mr. Rosenberger, representing 41.7% of the Company's outstanding shares of common stock. Mr. Rosenberger retained beneficial ownership of 4,573,000 shares, representing 12.3% of the Company's outstanding shares of common stock. As a result of his involvement in the transaction, Mr. Alexander gained extensive knowledge of American Restaurant Concepts' operations, which will enable him to have an immediate, beneficial impact on the growth of the Company moving forward.
"I am very pleased that Fred has joined our Board of Directors," stated Michael Rosenberger, CEO of American Restaurant Concepts. "He is a talented businessman with extensive transactional and operational experience identifying and rehabilitating undervalued assets. He has a substantial number of connections within the branded restaurant industry, which we believe will yield positive results for American Restaurant Concepts as we continue to execute upon our growth strategy."
"I am delighted to join the Board of Directors of American Restaurant Concepts and have the opportunity to contribute to the success of the Company," Mr. Alexander said. "Michael and I will be committed to the same goals going forward, as we continue to strengthen the Dick's Wings® restaurant franchise by building it into a unique national brand. I believe my experience will be a valuable resource for the Company and look forward to leveraging my skills and experience to help American Restaurant Concepts succeed."
American Restaurant Concepts, Inc., headquartered in Jacksonville, Florida, is the owner, operator and franchisor of the Dick's Wings & Grill® full-service restaurants and Dick's Wing Express® quick-service restaurants. The company prides itself on the 365 original mouth-watering flavors it has created for its premium grade chicken wings. Dick's Wings® offers customers the freshest wings, sandwiches, burgers, wraps, salads and signature waffle fries, all in a unique setting that combines a family-friendly environment with a sports-themed restaurant. Dick's Wings® chicken wings have won numerous awards in Florida and Georgia, including having been voted "Best Chicken Wings in Northeast Florida" 12 consecutive years by Folioweekly magazine. Dick's Wings® currently has 16 full-service restaurants and 2 express restaurants. Fifteen of the restaurants are located in Florida and one is located in Georgia. For more information on the company, please visit its website at www.dickswingsandgrill.com.
Blue Victory Holdings, Inc., headquartered in Lafayette, Louisiana, is a private equity firm that is focused primarily on the development and management of branded assets, real estate and other endeavors. It concentrates its activities on opening, managing, rehabilitating, buying and disposing of a variety of undervalued assets for the purpose of maximizing shareholder return. The company and its affiliates are expected to produce more than $25 million in revenue during 2012. For more information on the company, please visit its website at www.bluevictoryholdings.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the company's future financial position, business strategy, budgets, projected revenues and costs, and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors set forth in the company's Annual Report on Form 10-K for the year ended December 25, 2011 and its other filings and submissions with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the company assumes no obligation to update or revise any of the information contained in this press release.
SOURCE American Restaurant Concepts, Inc.