DRH Signs Lease for New Bagger Dave’s® Restaurant
SOUTHFIELD, Mich.-(Business Wire)-September 22, 2009 - Diversified Restaurant Holdings Inc. (OTCBB: DFRH) announced today that it has signed a lease for a new Bagger Dave’s Legendary Burgers and Fries to be located in Novi, Michigan. The store is scheduled to open in the first quarter of 2010. A unique feature of the Bagger Dave’s concept is its local focus with the interior showcasing historic photos of the city in which it resides. These nostalgic images gathered from local museums and historical societies create a sense of community loyalty that sets Baggers apart from the typical franchise restaurant.
“This is the third Bagger Dave’s since the concept launched in January 2008,” said Michael Ansley, President and CEO of Diversified Restaurant Holdings, Inc. “Plans call for seven wholly-owned Bagger Dave’s by 2011. We compete in the underdeveloped, mid-range price point sector of the fast casual restaurant market. This affordable pricing strategy, combined with great menu offerings i.e. guests can customize their burger with more than 30 toppings. In addition, the Novi location will also open with breakfast, serving various items such as cereals, baked goods, gourmet coffees, and even a customizable egg sandwich. This plus unmatched service, has been particularly appealing to families and is the key to our success.”
About the Company
Diversified Restaurant Holdings, Inc. is a restaurant management company, handling the operations of 16 Buffalo Wild Wings restaurants; five in Florida and 11 in Michigan. Previously, the company has received franchise awards for the Highest Annual Restaurant Sales and operates four out of the top 25 franchise restaurants in sales volume in the Buffalo Wild Wings system. The company also owns and operates its own restaurant concept, Bagger Dave’s Legendary Burgers and Fries, which falls within the fast-casual dining segment. Currently there are two locations in the State of Michigan. For more information please visit www.diversifiedrestaurantholdings.com
About Bagger Dave’s®
Diversified Restaurant Holdings, Inc. launched Bagger Dave’s in January 2008 with the first location in Berkley, MI and the second in August 2008 in Ann Arbor, MI. The menu features freshly made burgers (never frozen) accompanied by more than 30 toppings to add-on, fresh-cut fries, and hand-dipped milkshakes. Signature items include Sloppy Dave’s BBQ®, Train Wreck Burger®, and Bagger Dave’s Amazingly Delicious Turkey Black Bean Chili. The concept focuses on local flair with the interior showcasing historic photos of the city in which it resides. There’s also an electric train that runs above the dining room and bar areas. All current and future locations will be smoke-free. For more information please visit www.baggerdaves.com
Buffalo Wild Wings®
Buffalo Wild Wings, Inc., founded in 1982 and headquartered in Minneapolis, Minnesota, is an established and growing owner, operator, and franchisor. The widespread appeal of the Buffalo Wild Wings concept establishes its restaurants as an inviting, neighborhood destination with more than 600 restaurants in over 40 states. For more information please visit buffalowildwings.com
Safe Harbor Statement
In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found in the Company’s SEC Filings. The Company disclaims any responsibility to update any forward-looking statements.
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