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UFood Restaurant Group, Inc. Announces 38 Store Franchise Agreement |
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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 Rocky Mountain states. |
The franchisee has entered into a 5 ½ year development agreement to open thirty-eight UFood Grills in Colorado, Utah, Montana, Idaho, and Wyoming. The agreement gives the developer the right to open in any location deemed viable for the initial exposure of UFood Grill to the consumers in those states. The first locations are expected to open in high profile sites in Salt Lake City and Denver.
George Naddaff, Chairman and CEO of UFood Grill comments, 'We are excited to bring in an experienced developer to open thirty-eight of our restaurants in the northwest region. This represents the significant progress of UFood Grill's franchising program and the continued success of building a national brand.'
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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