|Einstein Bros. Bagels Announces Signing of Franchise Development Agreement for San Antonio Area|
Esteemed Restaurateur Plans to Open Seven Restaurants in Five Years throughout Bexar County, Texas
LAKEWOOD, Colo., Aug. 20 /PRNewswire-FirstCall/ -- Einstein Noah Restaurant Group (Nasdaq: BAGL) is pleased to announce the signing of a multi-unit development agreement with restaurateur Charles Loflin to franchise Einstein Bros.(R) Bagels restaurants and continue to expand the popular brand in Texas.
Operating more than 32 restaurants of various fast casual brands throughout the Southwestern region of Texas, Mr. Loflin could add seven Einstein Bros. restaurants to his franchise collection within the next five years, specifically in Bexar County which includes all of the San Antonio market. The first restaurant is scheduled to open in early 2009.
"The craveable food and comfortable atmosphere of the popular Einstein Bros. brand fit in well with the neighborhood," said Mr. Loflin, new franchisee of Einstein Bros. "I am pleased that we are planning to bring its neighborhood friendly atmosphere and variety of great tasting menu items with high-quality ingredients and quick casual service to the residents of the area."
When the franchised restaurants open their doors, neighbors and guests in San Antonio and communities throughout Bexar County will be able to fill their breakfast, lunch and snack cravings with Einstein Bros.' menu, featuring award-winning bagels and shmear varieties, made-to-order breakfast and lunch sandwiches, Darn Good Coffee(R) and specialty coffee drinks, hearty soups, fresh innovative salads, baked goods and decadent desserts.
"We believe that Charles is going to be a great franchisee for the continued growth of our brand in Texas," said Kevin Kruse, vice president of franchise development. "We are pleased to see Charles join the Einstein Bros. family and are committed to supporting him and all of our franchisees, present and future, as the system continues to grow."
Paul Carolan, senior vice president of franchising and licensing, added, "Einstein Noah Restaurant Group is in growth mode. We anticipate that Charles will help perpetuate our high name recognition throughout Texas and his franchises are expected to play a major role in our growth efforts going forward."
There are 33 Einstein Bros. restaurants currently open in the state, 23 company-owned locations and 10 licensed venues.
About Einstein Noah Restaurant Group
Einstein Noah Restaurant Group is a leading company in the quick casual restaurant industry that operates and licenses locations primarily under the Einstein Bros. and Noah's New York Bagels brands and primarily franchises locations under the Manhattan Bagel brand. The company's retail system consists of approximately 600 restaurants in 36 states and the District of Columbia. It also operates a dough production facility. The company's stock is traded on the NASDAQ under the symbol BAGL. Visit http://www.einsteinnoah.com for additional information.
Forward looking statements
Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "estimate," "project," "plan to," "is designed to," "expectations," "intend," "indications," "expect," "should," "would," "believe," "target," "trend," "will be able," "is going to be," "will play" and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the actual results or achievements to differ from those expressed or implied by such forward-looking statements. These factors include but are not limited to the following: the ability of Mr. Loflin to build, open and successfully run Einstein Bros. locations is dependent upon, among other factors, its ability to find suitable locations, reach acceptable lease terms, have adequate capital, find available contractors, obtain licenses and permits, locate and train staff appropriately and properly manage the new restaurants. These and other risks are more fully discussed in the Company's SEC filings.
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SOURCE Einstein Noah Restaurant Group