IFDA NEWS
Never seen this on SI, Great story, call CEO fpr plan for NAZ.
Home - Yahoo! - Help
--------------------------------------------------------------------------------
[ Business | US Market | By Industry | IPO | AP | S&P | International | PRNews | BizWire ]
--------------------------------------------------------------------------------
Related Quotes
IFDA
TUBY
0
0
+0
+0
delayed 20 mins - disclaimer
Wednesday March 10, 8:28 am Eastern Time
Company Press Release
Interfoods of America Inc. Completes 10 Store Popeyes Chicken Acquisition in Baton Rouge, La.
MIAMI--(BUSINESS WIRE)--March 10, 1999--Interfoods of America Inc., (OTC BB:IFDA), the Miami-based Popeyes Chicken & Biscuits Franchisee, announced Wednesday that it has completed its acquisition of ten Popeyes Chicken stores in Baton Rouge, La.
This brings to 18 the number of stores the company operates in Baton Rouge after acquiring eight in December 1997. The new stores will add approximately $9 million in annual revenues to the company's top line. The acquisition was accomplished with debt and sale-leaseback financing without any dilution to current shareholders.
''We are pleased to add these ten additional Popeyes restaurants to the 32 we currently operate giving us a total of 42,'' said Robert S. Berg, Interfoods chairman and chief executive officer. ''The company looks forward to the closing of a nine store acquisition in St. Louis later this month,'' he stated.
The company has five additional stores under development which should open during the company's third quarter. Also previously announced is a merger plan with Tubby's Inc. (Nasdaq:TUBY - news) that will result in Interfoods of America being listed on the NASDAQ Small Cap Market. Currently the company's stock is listed on the OTC Bulletin Board.
Popeyes Chicken & Biscuits is the second-largest chicken chain in the world in terms of sales. It offers a unique Cajun, or New Orleans, style fried chicken along with side dishes that include red beans and rice, Cajun rice, shrimp and crawfish, as well as mashed potatoes and gravy. The brand has a presence in 40 states and 23 countries worldwide.
Information in this release relating to expansion plans, estimates of market sizes and demands for the company's products as well as any other future events, may contain forward-looking statements subject to certain risks and uncertainties that may cause actual results to differ materially. These matters are more fully presented in periodic reports the company files with the Securities and Exchange Commission, including forms 10-KSB, 10-QSB Annual and Quarterly reports, and other such filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update the forward-looking statements.
--------------------------------------------------------------------------------
Contact:
Interfoods of America Inc., Miami
Robert S. Berg, Chairman and CEO
305/670-0746
--------------------------------------------------------------------------------
More Quotes
and News: Interfoods of America Inc (OTC BB:IFDA - news)
Tubby's Inc (Nasdaq:TUBY - news)
Related News Categories: food/beverage, leisure/travel, restraunt
--------------------------------------------------------------------------------
Help
--------------------------------------------------------------------------------
Copyright © 1999 Business Wire. All rights reserved. All the news releases provided by Business Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving ina public database, redistributing via a computer network or in a printed form.
See our Important Disclaimers and Legal Information.
Questions or Comments? |
