UFood Restaurant Group, Inc. Announces the First Franchise Agreement in the Chicago Area
UFood Restaurant Group, Inc. (OTCBB: UFFC), a franchisor and operator of fast-casual food service restaurants and nutritional product retail stores, today announced the sale of a multi unit restaurant development to a franchise developer in the greater Chicago metropolitan area.
The franchisee has an extensive background opening restaurants such as International House of Pancakes and Jimmy John's.
The franchisee has entered into a franchise and development agreement to open the first five UFood Grills in the Chicago metropolitan area. The agreement will allow the developer the rights to any location deemed viable for the initial exposure of UFood to the consumers in the Chicago region. The first location is expected to break ground immediately and open as early as this summer.
George Naddaff, Chairman and CEO of UFood comments, 'We are excited to have our first franchisee in the Chicago market. UFood has an opportunity to penetrate a growing metropolitan area that supports a variety of restaurants with a new diverse menu such as ours. With this franchisee, we are confident that the Chicago consumers will soon be familiar with UFood's concept feel great...eat smart.'
The fast-casual dining segment is led by companies such as Chipotle Mexican Grill (NYSE: CMG) and Panera Bread Company (Nasdaq: PNRA), and caters to customers who desire the convenience of a fast-food chain and are willing to pay a premium for higher quality, differentiated menu items.
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