Diversified Restaurant Holdings Opened the Nation's Largest Buffalo Wild Wings(R) in Downtown Detroit
Company Expanded Restaurant Count by More Than 60% in 2012, From 28 to 45 Locations
SOUTHFIELD, Mich. - Jan. 3, 2013 // 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(R) ("Bagger Dave's") and one of the largest franchisees for Buffalo Wild Wings(R) ("BWW"), announced it opened the nation's largest BWW, based on square footage, in downtown Detroit at 1218 Randolph Street on Sunday, December 23, 2012.
T. Michael Ansley, President and CEO of Diversified Restaurant Holdings, commented, "There has been so much energy and positivity surrounding the revitalization and rebuilding of downtown Detroit. We are in the process of constructing a Bagger Dave's adjacent to this BWW, further demonstrating our continued commitment to the community and our belief in the City's revitalization efforts. We believe both restaurants will be successful given their desirable location as the gateway to the Greektown Historic District and within walking distance to the Greektown Casino, Comerica Park, Ford Field and Joe Louis Arena."
Mr. Ansley continued, "This latest opening highlights DRH's successful achievement of increasing our combined number of restaurants from 28 to 45 in 2012. While this is a significant milestone for us, we are looking forward to continuing our expansion strategy throughout the Midwest in 2013."
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(R) ("Bagger Dave's") and one of the largest Buffalo Wild Wings(R) ("BWW") franchisees. Between the two concepts, the Company currently operates 44 corporate-owned restaurants in Michigan, Florida, Illinois, and Indiana, and one franchised Bagger Dave's in Missouri, for a total of 45 restaurants. The Company routinely posts news and other important information on its website 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, along with fresh-cut fries, hand-dipped milkshakes, and a selection of craft beer and wine. Signature items include Sloppy Dave's BBQ(R), Train Wreck Burger(R), and Bagger Dave's Amazingly Delicious Turkey Black Bean Chili(R). 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 11 corporate-owned locations and one franchised location. For more information, visit www.baggerdaves.com.
DRH operates 33 BWW restaurants: 15 in Michigan, 10 in Florida, four in Illinois and four in Indiana. The Company has opened 19 new BWW restaurants in fulfillment of its 32-store Area Development Agreement ("ADA") with franchisor Buffalo Wild Wings, Inc. (Nasdaq:BWLD). The remaining 13 restaurants under the ADA agreement, along with an additional franchise agreement in Indiana, suggest that the Company will operate 47 BWW's by 2017.
Safe Harbor Statement
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