UFood Restaurant Group, Inc. Announces the Hiring of Patrick Chiacchia
UFood Restaurant Group, Inc. (OTCBB: UFFC), a franchisor and operator of fast-casual food service restaurants and nutritional product retail stores, today announced the hiring of Patrick Chiacchia as Vice President of Real Estate. Patrick Chiacchia has over 30 years of real estate development experience including several national multi-unit rollouts.
After completing a three year internship at a mid-sized CPA firm, Mr. Chiacchia served as the Director of Real Estate for Wienerwald GMBH, the largest chain of restaurants in Europe and also the owner of Lum's Restaurants, IHOP and Ranch House in the US. Mr. Chiacchia then served alongside UFood's George Naddaff and Charles Cocotas as Boston Chicken's Director of Real Estate, where he developed 114 company-owned units and approved 118 franchise units. He later became Vice President of Real Estate in the Northeast Quadrant for Boston Market. He also worked with Mr. Cocotas as Vice President of Development for Best Friends Pet Resorts and Salons where he led the development team, building 18,000 square feet of Pet Hotels in retail areas and helping to raise over $40 million.
Over the past eight years Mr. Chiacchia has assisted public companies and start-up companies in developing their real estate departments and strategies, including Microsoft (Nasdaq: MSFT), Unilever USA (NYSE: UN), Wingstop, iFLOOR, and Rapido Rabbit Car Washes. He specializes in precise market planning for corporate and franchise territories, greenfield development, business acquisitions, owner financed acquisitions, leases, 1031s, and ground leases.
'You can't pay too little for a bad piece of real estate,' said Patrick Chiacchia. 'It is essential to find the right piece of real estate property in order to strategically place UFood Grill locations nationwide. I am excited to be working with George and Charlie again to assist in accomplishing their goals for the company.'
George Naddaff, Chairman and CEO of UFood, comments, 'I welcome Pat to the company. His wealth of experience ranging from franchising to real estate development will play an important role in our growth. It is great to be working with him again.'
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.
Over the past eight years Mr. Chiacchia has assisted public companies and start-up companies in developing their real estate departments and strategies, including Microsoft (Nasdaq: MSFT), Unilever USA (NYSE: UN), Wingstop, iFLOOR, and Rapido Rabbit Car Washes. He specializes in precise market planning for corporate and franchise territories, greenfield development, business acquisitions, owner financed acquisitions, leases, 1031s, and ground leases.
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'You can't pay too little for a bad piece of real estate,' said Patrick Chiacchia. 'It is essential to find the right piece of real estate property in order to strategically place UFood Grill locations nationwide. I am excited to be working with George and Charlie again to assist in accomplishing their goals for the company.'
George Naddaff, Chairman and CEO of UFood, comments, 'I welcome Pat to the company. His wealth of experience ranging from franchising to real estate development will play an important role in our growth. It is great to be working with him again.'
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.
