News: Red Bell Unveils Newest Brewpub Location
PHILADELPHIA--(BUSINESS WIRE)--July 12, 2001--Red Bell Brewing Company (NASDAQ OTC BB:RDBL - news), brewers of 10 fine Ales and Lager beers announced today that a wholly-owned subsidiary of the Company has completed an agreement with 4421 MAIN ST., INC. to acquire all of the assets, liquor license and lease of 4421 MAIN ST.,INC.
Red Bell expects that this newest acquisition will further increase shareholder value for Red Bell shareholders.
This agreement paves the way for Red Bell to develop and operate a 3,650 sq. ft. Red Bell Brewery & Pub at 4421 Main Street in Manayunk-Philadelphia.
``We expect to begin renovations on the new property on Friday July 13, 2001 and complete renovations in preparation for a late September Grand Opening,'' said James R. Bell, President of Red Bell. Bell continued, ``I love the Manayunk area. We think of Red Bell as a uniquely Philadelphia tradition. So we are very pleased to be on Main Street in Manayunk, one of Philadelphia's most unique and dynamic neighborhoods.''
The new Red Bell brewpub will feature a casual diverse dinning atmosphere with a high quality, moderately priced American regional style menu, featuring an exciting and diverse selection of upscale pasta dishes, chicken, steak, seafood, sandwiches, burgers, salads and children's menu along with a traditional ``pub style'' menu including Red Bell's famous buffalo wings.
The Red Bell Brewery & Pub will also feature on premises brewing of our award winning varieties of Ales and Lager beers brewed in eleven (11) state of the art copper and stainless steel brewing vessels.
Bell added ``From the warm lighting to the smallest hardwood detail, we have designed a pub that is meant to be warm and inviting, a place where you will want to bring both friends and family.'' The Red Bell brewpub in Manayunk will be located next to Kansas City Prime in the heart of bustling Main Street Manayunk. It will be open for lunch, dinner or just a fun casual visit.
Red Bell projects that this newest Red Bell brewpub could generate revenues for the Company of approximately $1,100,000.00 with projected net profit and additional income as much as $237,000.00 for Red Bell Brewing Company in its first full year of operation.
About Red Bell Brewing Company:
Red Bell Brewing Company's goal is to be the only publicly traded brewing company in the country which combines a large regional brewery with a strategic network of smaller breweries known as ``brewpub/ restaurants,'' in key beer markets.
Red Bell Brewing Company developed the first ever complete brewery operation and brewpub in a Professional Indoor Arena located at the First Union Center, home of the Philadelphia Flyers and 76ers. Red Bell also licenses its name to three brewpubs at Veterans Stadium, home to the Philadelphia Eagles and Phillies. Red Bell plans to announce 2-3 new strategic Red Bell brewpub properties this coming year.
The forward-looking statements in this news release involve risk and uncertainties. The forward-looking statements reflect management's current views with respect to future events and are subject to certain assumptions, risk and uncertainties. The Company's actual results could differ as a result of numerous factors which may be beyond the Company's control.
Red Bell's success may depend on its ability to obtain substantial additional financing. Information about potential factors, which could affect the Company's future performance, is included in the Risk Factors section of the Company's filings with the Securities and Exchange Commission
All forward-looking statements included in this document are based on information available to the Company as of the date of this document, and the Company assumes no obligation to update any such forward-looking statements.
Source: Red Bell Brewing Company
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Contact:
Red Bell Brewing Company
James R. Bell, 215/235-2460
or
Tim Barham, 336/375-7540
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