BW0056 JAN 22,1997 6:28 PACIFIC 09:28 EASTERN
( BW)(NU-PIZZA)(NUZA) NUZA completes acquisition of Oregon
restaurant chain
Business Editors
VAN NUYS, Calif.--(BUSINESS WIRE)--Jan. 22, 1997--N.U. Pizza
Corp. (NASDAQ/OTC:NUZA), operators of the Numero Uno Italian
restaurant and pizza chain, have finalized the acquisition of the
10-unit "Oregon's Original Sandwich Express and Bakery" chain.
Sandwich Express Bakery is an upscale sandwich concept, and
Numero Uno is an upscale Italian restaurant pizza concept. The
company intends to retrofit the Sandwich Express chain into a new
dual concept that will be the growth vehicle of the company for the
future.
The units will continue to feature a fast-food, limited-service
sandwich concept at lunch, and will convert to a full-service
restaurant featuring Numero Uno's award-winning thick and thin
pizzas, pasta and salads during the evening.
The acquisition is an excellent fit for the company because
approximately 80 percent of Sandwich Express's sales are derived
from lunch business, and approximately 80 percent of Numero Uno's
sales are derived from evening business. The combining of the two
concepts should greatly enhance overall sales.
The name for the new concept -- Formaggi/Sandwich Express -- has
already been registered and the prototype plan developed.
Management believes that the revenues of the acquired Sandwich
Express restaurants will be increased by as much as 100 percent due
to the dual concept, and that the new dual-concept stores will
generate sales in excess of industry averages.
The company will begin developing company-owned restaurants and
selling individual and territorial franchises during the second
quarter of 1997.
The Formaggi/Sandwich Express concept will be operated by a
wholly owned subsidiary of N.U. Pizza Holding Corp.
According to Ron Gelet, president of NUZA, the acquisition
presented NUZA with an opportunity for immediate and significant
market penetration and awareness at a fraction of what it would have
cost to develop the new concept from scratch. In addition, the
acquisition will immediately and significantly increase the
company's revenues, cash flow and profitability.
--30--RPL/la* EW/la
CONTACT: N.U. Pizza Corp.
Ron Gelet, 619/259-6322
619/259-6328 (fax)
KEYWORD: CALIFORNIA OREGON
INDUSTRY KEYWORD: FOODS/BEVERAGES RESTAURANTS MERGERS/ACQ
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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