American Restaurant Concepts, Inc. Announces Significant Shareholder Equity Acquisition
Seenu Kasturi Increases Equity Stake to Over 6.8%
JACKSONVILLE, Fla. - March 4, 2013 // PRNewswire // - American Restaurant Concepts, Inc. (OTCBB:ANPZ), the franchisor and operations management of America's award-winning Dick's Wings® restaurants, announced today that Seenu Kasturi has increased his equity position in the company to just over 6.8%.
"I'm a big believer in how American Restaurant Concepts is positioning itself in the fast growing casual restaurant operations and management market. My personal investment is proof of this belief," said Seenu Kasturi , chief executive officer and founder of Blue Victory Holdings. "Having recently added strong management talent and recognizing the new geographic growth opportunities, I see significant opportunities for ARC to grow," added Kasturi.
About American Restaurant Concepts, Inc.
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 Dick's Wings and Grill, please visit its website at www.BestWingsEver.com.
About Blue Victory Holdings, Inc.
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. It concentrates its activities on opening, managing, rehabilitating, buying and disposing of a variety of branded assets for the purpose of maximizing shareholder value. The company and its affiliates have produced more than $28 million in revenue during 2012. To receive more information on the company, please register at its website at www.bluevictoryholdings.com.
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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.
All trademarks or brand names referred to herein are the property of their respective owners.
SOURCE American Restaurant Concepts, Inc.
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