Creative Eateries Corporation (OTC.BB – CEAT) is pleased to announce it has acquired 100% of Pasta Pranzo Franchise Company, LLC, a fast-casual restaurant concept developed in Los Angeles, CA. The acquisition includes specific trademarks and service marks, including the Pasta Pranzo trademark, logo and related commercial symbols and slogans, and recipes, including future recipes and the Pasta Pranzo location in the Santa Monica area in West Los Angeles. Existing management will be retained and join the Creative Eateries team.
(PRWEB) September 29, 2005 -- Creative Eateries Corporation (OTC.BB – CEAT) is pleased to announce it has acquired 100% of Pasta Pranzo Franchise Company, LLC, a fast-casual restaurant concept developed in Los Angeles, CA.
The acquisition includes specific trademarks and service marks, including the Pasta Pranzo trademark, logo and related commercial symbols and slogans, and recipes, including future recipes and the Pasta Pranzo location in the Santa Monica area in West Los Angeles. Existing management will be retained and join the Creative Eateries team.
Pasta Pranzo's concept is a 1,200 to 1,800 sq. ft. made-to-order pasta restaurant concept which provides a fast-casual alternative to consumers who want great tasting, high quality food, along with speed, value and convenience. It is perceived as an adult fast food choice with broad appeal among the middle-class segment. The food is prepared fresh daily, with full exhibition kitchen, and a guest check average in the $8.50 range. Average sales are expected to be $750,000 to $800,000 per store and the company expects franchise sales to be 30 to 40 units by the end of 2006.
Unlike Don Allio's Italian Kitchen, Pasta Pranzo will be a smaller fast-casual restaurant that will provide good hardy pasta dishes for those on the go. Franchise fees for Pasta Pranzo will be less at $25,000 per location and a much lower build out fee in the range of $300,000 per unit.
Creative Eateries intends to build a second Pasta Pranzo store in Arizona, and will add this concept to its' formidable franchising efforts nationwide. Frank Holdraker, President & CEO of Creative Eateries Corporation says, We believe there is a large market for this brand, with little competition". The main competitors are Pasta Pomodoro owned by Wendy's, and Pasta Bravo which is owned by Yum Brands, Inc.
About Creative Eateries Corporation:
Creative Eateries Corporation is a franchise development company that targets emerging and undervalued franchise concepts. The Company is introducing a line of new restaurant brands that fall into the broad category of "fast-casual/full-service" dining. Creative Eateries Corporation will provide the necessary elements to grow these brands by partnering with the existing restaurant companies, thereby owning equity directly in these brands and by providing the concepts a total Franchise Turnkey Program. This formula is the result of several years of development to provide the tools and support needed to create and sustain a successful restaurant franchise with above average per store returns.
Creative Eateries is listed on the NASDAQ Electronic Bulletin Board under the trading symbol CEAT.
Look for our website at www.creativeeateries.com.
For further investment information please call Gary Reid at 1-866-475-7539.
Special Note Regarding Forward-Looking Statements
Forward-looking statements in this news release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this news release that are not strictly historical statements, including without limitation, management's plans and objectives for future operations and management's assessment of market factors, and statements regarding the strategy and plans of the company and its strategic partners, constitute forward-looking statements. These forward-looking statements are not guarantees of the company's future performance and are subject to a number of risks and uncertainties, such as our success in acquiring new concepts, funding these acquisitions, and successfully adapting and franchising these concepts, and could cause the company's actual results in the future materially to differ from the forward-looking statements.
###
|
