Kahala Corp. Announces Development Agreement For Australia With Restaurateur And Financier To Open 250 Locations
Kahala Corp. Announces Development Agreement For Australia With Restaurateur And Financier To Open 250 Locations
Franchising Plans Call for Introduction of Company's Seven Restaurant Concepts Making Australia Largest Market Outside of U.S.
September 2004 - Kahala Corp., a Scottsdale, Ariz.-based operator of seven quick service restaurant concepts totaling more than 1,000 locations, announced today it has entered into a development agreement with Chris Liberiou, an Australian restaurateur and financier, to open 250 locations throughout Australia over the next 10 years.
The announcement was made by Kevin Blackwell, chairman and chief executive officer of Kahala, which operates Surf City Squeeze, Samurai Sam's Teriyaki Grill, Ranch *1 Grilled Chicken, Frullati Café & Bakery, TacoTime, Rollerz and Great Steak & Potato restaurants throughout North America and in Puerto Rico, Japan, Egypt, Kuwait, Saudi Arabia, Qatar, United Arab Emirates, Oman, Greece, Thailand and Taiwan.
"We are extremely excited to be working with Chris Liberiou in bringing all of Kahala's restaurant concepts to Australia," Blackwell said. Kahala has been averaging one new store opening every day in the United States, and we are eager to continue the rapid growth of our brands overseas.
"Based on our research - and Mr. Liberiou's expertise - we are very confident that are concepts will be well received by the Australian dining public. We believe that during the next 10 years Australia can become Kahala's largest market outside of the United States," Blackwell concluded.
Under terms of the agreement, Liberiou - whose family has been in the restaurant business for over 50 years - will identify Australian franchise operators who will build and operate the new restaurants. Immediate plans call for initial franchise marketing efforts to begin immediately in Sydney and other major markets in Australia.
Liberiou, a dynamic entrepreneur possessing banking, legal and financing expertise, said he is confident that all seven of Kahala's restaurant concepts will resonate in his native land.
"Since carefully studying Kahala's business and food models, I have been very impressed with the uniqueness of the seven concepts that provides families with great food at an affordable price," Liberiou said. "Australians love American food and are looking for new and interesting ways to dine, which bodes well for the large variety of concepts that we will introduce to the market."
Blackwell said Kahala "has the experience and expertise to launch our various concepts in foreign countries, but we will also rely heavily on Mr. Liberiou's familiarity with the Australia audience. He thoroughly understands and agrees with our corporate mission of providing great food and great value for our patrons. We are excited about this new and innovative partnership."
Liberiou indicated he will actively seek prospective franchise owners throughout the country who would "like to get in on the ground floor with a company that has unsurpassed growth opportunities. A key component to our growth will be our desire to enter into multi-store agreements."
As one of the fastest growing franchising and marketing companies in North America, Kahala Corp. is a privately held corporation dedicated to the design, development and marketing of quick service restaurants. The company's expansive portfolio includes a variety of good-for-you branded concepts that are in step with today's growing trend towards low-fat, nutritious eating.
With more than $450 million in system wide sales and more than 1,000 locations, Kahala Corp. currently owns and franchises seven quick service restaurant concepts: Great Steak & Potato (acquired in March, 2004), serving genuine Philadelphia Cheesesteak sandwiches, fresh-cut French restaurant concepts, please visit the company website at www.kahalacorp.com.
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may provide not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the company. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitors, and general economic risks and uncertainties.
_________________________________
Produced For Kahala Corp.
CONTACT:
Michael Reagan
Investor Relations
(480) 443-0200, Ext. 418
Franchising Plans Call for Introduction of Company's Seven Restaurant Concepts Making Australia Largest Market Outside of U.S.
September 2004 - Kahala Corp., a Scottsdale, Ariz.-based operator of seven quick service restaurant concepts totaling more than 1,000 locations, announced today it has entered into a development agreement with Chris Liberiou, an Australian restaurateur and financier, to open 250 locations throughout Australia over the next 10 years.
The announcement was made by Kevin Blackwell, chairman and chief executive officer of Kahala, which operates Surf City Squeeze, Samurai Sam's Teriyaki Grill, Ranch *1 Grilled Chicken, Frullati Café & Bakery, TacoTime, Rollerz and Great Steak & Potato restaurants throughout North America and in Puerto Rico, Japan, Egypt, Kuwait, Saudi Arabia, Qatar, United Arab Emirates, Oman, Greece, Thailand and Taiwan.
"We are extremely excited to be working with Chris Liberiou in bringing all of Kahala's restaurant concepts to Australia," Blackwell said. Kahala has been averaging one new store opening every day in the United States, and we are eager to continue the rapid growth of our brands overseas.
"Based on our research - and Mr. Liberiou's expertise - we are very confident that are concepts will be well received by the Australian dining public. We believe that during the next 10 years Australia can become Kahala's largest market outside of the United States," Blackwell concluded.
Under terms of the agreement, Liberiou - whose family has been in the restaurant business for over 50 years - will identify Australian franchise operators who will build and operate the new restaurants. Immediate plans call for initial franchise marketing efforts to begin immediately in Sydney and other major markets in Australia.
Liberiou, a dynamic entrepreneur possessing banking, legal and financing expertise, said he is confident that all seven of Kahala's restaurant concepts will resonate in his native land.
"Since carefully studying Kahala's business and food models, I have been very impressed with the uniqueness of the seven concepts that provides families with great food at an affordable price," Liberiou said. "Australians love American food and are looking for new and interesting ways to dine, which bodes well for the large variety of concepts that we will introduce to the market."
Blackwell said Kahala "has the experience and expertise to launch our various concepts in foreign countries, but we will also rely heavily on Mr. Liberiou's familiarity with the Australia audience. He thoroughly understands and agrees with our corporate mission of providing great food and great value for our patrons. We are excited about this new and innovative partnership."
Liberiou indicated he will actively seek prospective franchise owners throughout the country who would "like to get in on the ground floor with a company that has unsurpassed growth opportunities. A key component to our growth will be our desire to enter into multi-store agreements."
As one of the fastest growing franchising and marketing companies in North America, Kahala Corp. is a privately held corporation dedicated to the design, development and marketing of quick service restaurants. The company's expansive portfolio includes a variety of good-for-you branded concepts that are in step with today's growing trend towards low-fat, nutritious eating.
With more than $450 million in system wide sales and more than 1,000 locations, Kahala Corp. currently owns and franchises seven quick service restaurant concepts: Great Steak & Potato (acquired in March, 2004), serving genuine Philadelphia Cheesesteak sandwiches, fresh-cut French restaurant concepts, please visit the company website at www.kahalacorp.com.
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may provide not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the company. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitors, and general economic risks and uncertainties.
_________________________________
Produced For Kahala Corp.
CONTACT:
Michael Reagan
Investor Relations
(480) 443-0200, Ext. 418
