MINNEAPOLIS--(BUSINESS WIRE)--July 12, 2005--FAMOUS DAVE'S OF AMERICA, INC. (NASDAQ:DAVE - News) President and CEO David Goronkin announced today that Hoosier Ribs, LLC, has purchased the right to franchise six Famous Dave's Legendary Pit Bar-B-Que® restaurants in Indiana. The cities covered by the development agreement include Anderson, Bloomington, Fort Wayne, Indianapolis, Kokomo, Lafayette/West Lafayette, Muncie and Terre Haute. The new Famous Dave's are expected to open over the next six years.
Mr. Goronkin also reported that Famous Dave's previously announced agreement with New England Barbecue Ventures, LLC, for nine new restaurants in the Northeastern U.S. has been amended to increase the number of restaurants to 10 and to include Rhode Island in the development territory.
Hoosier Ribs is owned by Sunil Puri, Dave Henson, Tom Ketelsen and Fred White, and is based in Rockford, Illinois. The group collectively owns and operates Famous Dave's restaurants in Davenport, Iowa and Rockford, Illinois.
"Famous Dave's is excited to be expanding in Indiana, a state that definitely loves its barbeque," said David Goronkin, President and CEO of Famous Dave's. The two current Famous Dave's restaurants in Indiana are located in Mishawaka and Clarksville.
Famous Dave's Bar-B-Que features hickory-smoked St. Louis-style ribs, Texas Beef Brisket, and Famous Dave's award-winning Rich & Sassy® BBQ sauce. Additionally, the menu offers barbeque and country roasted chicken, BBQ sandwiches, burgers and salads. Plus, the restaurant serves up such down home classics as made-from-scratch coleslaw, potato salad, Wilbur Beans, corn bread muffins and Famous Fries. Famous Dave's delectable homemade desserts include its award-winning bread pudding and hot fudge Kahlua brownie.
Having won awards for everything from best sauce to best ribs to best cookbook, Famous Dave's has received wide acclaim and praise from customers and critics alike. Famous Dave's Rib Team regularly competes in rib competitions across the country, and has raked in 1st place awards at the Southern Florida Championship Cook Off in Jupiter, Florida, the Great American Rib Cook-off in Ohio, the Sioux Empire Rib-fest in Sioux Falls, South Dakota, the Rib Fest & More in Fargo, North Dakota, the Pontiac Rib America Rib Fest in Pontiac, Michigan, the Twin Cities Rockin' Rib Fest in Minneapolis, Minnesota and the Rib America Indianapolis Rib Fest in Indianapolis, Indiana to name just a few.
About Famous Dave's. Famous Dave's of America, Inc. (NASDAQ:DAVE - News) develops, owns, operates and franchises barbeque restaurants. The company currently owns 38 locations and franchises 80 additional units in 29 states and has signed development agreements for an additional 172 franchised locations. Its menu features award-winning barbequed and grilled meats, an ample selection of salads, side items and sandwiches, and unique desserts. For more information, please visit www.famousdaves.com or contact Pat Courtemanche at (612) 782-8305.
Certain matters discussed within this press release, including timing of the transactions, restaurant openings and expansion plans, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Famous Dave's of America, Inc. believes the expectation reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectation will be attained. Factors that could cause actual results to differ materially from Famous Dave's expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, franchisee performance, changes in local or national economic conditions, availability of financing, governmental approvals and other risks detailed from time to time in the company's SEC reports.
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Contact:
Golden & Associates, Minneapolis
Pat Courtemanche, 612-782-8305
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Source: Famous Dave's of America, Inc. |
