WESTBURY, N.Y.--(BUSINESS WIRE)--April 28, 2008--Nathan's Famous,
Inc. (Nasdaq Symbol: NATH), announced today the sale of its
subsidiary, NF Roasters Corp., to Roasters Asia Pacific (Cayman)
Limited, its Master Developer of franchised Kenny Rogers Roasters
restaurants in Malaysia and certain other foreign territories. The
purchase price was approximately $4,000,000 in cash plus certain
accruals.
In connection with the sale, NF Roasters Corp. entered into a
license agreement with a subsidiary of Nathan's, pursuant to which NF
Roasters Corp. licensed to the Nathan's subsidiary certain
intellectual property necessary for Nathan's to continue to make
available "Kenny Rogers" products at existing Nathan's Famous and
Miami Subs restaurants.
About Nathan's Famous
Nathan's products are distributed in 50 states, and four foreign
countries through its restaurant system, Branded Product Program and
retail licensing activities. Following the sale of NF Roasters Corp.,
Nathan's restaurant system consisted of 223 franchised or licensed
units and six company-owned units (including one seasonal unit). For
additional information about Nathan's please visit our website at
www.nathansfamous.com
Except for historical information contained in this news release,
the matters discussed are forward looking statements that involve
risks and uncertainties. Words such as "anticipate", "believe",
"estimate", "expect", "intend", and similar expressions identify
forward-looking statements, which are based on the current belief of
the Company's management, as well as assumptions made by and
information currently available to the Company's management. Among the
factors that could cause actual results to differ materially are the
following: the effect of business and economic conditions; the impact
of competitive products and pricing; the ability to obtain an adequate
supply of beef and other food products at competitive prices;
capacity; the regulatory and trade environment; and the risk factors
reported from time to time in the Company's SEC reports. The Company
does not undertake any obligation to update such forward-looking
statements.
CONTACT: Nathan's Famous, Inc.
Ronald G. DeVos, Vice President - Finance and CFO
516-338-8500 ext. 229
SOURCE: Nathan's Famous, Inc.
