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Restaurant Industry News |
Saturday November 22nd, 2008 |
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Papa Bello Enterprises, Inc. Establishes Leasing Agreement With CapitaRetail, One of the Largest Retail Mall Developers in China |
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Papa Bello Enterprises, Inc. (Pink Sheets: PAPA) is pleased to announce that the company has successfully established a leasing opportunity with CapitaRetail, one of the largest retail mall developers in the Peoples Republic of China. |
Papa Bello is scheduled to begin construction plans on its initial corporate store in Guangzhou, China beginning the first quarter of 2009. The agreement comes after several visits over the past six months to China by Papa Bello CEO Chase Canfield, 31, who says, "This relationship with CapitaRetail will quickly increase Papa Bello's brand awareness and recognition as we enter the rapidly growing and emerging franchise market in China. Additionally, the immediate and future available locations enable us to efficiently manage all aspects relating to real estate logistics."
CapitaRetail has expressed the intent to have Papa Bello be present in a number of its existing and future mall locations throughout China. CapitaRetail's Leasing Director Ricky Peng states, "We are anxious to begin our relationship with Papa Bello, their experience working within major retail chains such as Wal-Mart will benefit both our companies."
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