UFood Restaurant Group, Inc. (OTCBB: UFFC), a franchisor and operator of fast-casual food service restaurants and nutritional product retail stores, today announced the sale of a multi unit restaurant development to a franchise developer in the greater Chicago metropolitan area. The franchisee has an extensive background opening restaurants such as International House of Pancakes and Jimmy John’s.
The franchisee has entered into a franchise and development agreement to open the first five UFood Grills in the Chicago metropolitan area. The agreement will allow the developer the rights to any location deemed viable for the initial exposure of UFood to the consumers in the Chicago region. The first location is expected to break ground immediately and open as early as this summer.
George Naddaff, Chairman and CEO of UFood comments, “We are excited to have our first franchisee in the Chicago market. UFood has an opportunity to penetrate a growing metropolitan area that supports a variety of restaurants with a new diverse menu such as ours. With this franchisee, we are confident that the Chicago consumers will soon be familiar with UFood’s concept feel great…eat smart.”
The fast-casual dining segment is led by companies such as Chipotle Mexican Grill (NYSE: CMG) and Panera Bread Company (Nasdaq: PNRA), and caters to customers who desire the convenience of a fast-food chain and are willing to pay a premium for higher quality, differentiated menu items.
About UFood Restaurant Group, Inc.
Headquartered in Boston, MA, UFood Restaurant Group, Inc. is a franchisor and operator of fast-casual food service restaurants with an integrated retail store that sells nutritional products for a dual revenue stream business. UFood Grill offers a healthy lifestyle alternative to consumers in the fast-casual restaurant space and is positioned to become a leading player in the “better-for-you” quick serve restaurant category. The Company is led by franchise innovator George Naddaff, who founded Boston Market and led the franchising of several companies including Sylvan Learning Center and Ranch*1. Mr. Naddaff has a veteran management team with a record of success in the franchise market. UFood is currently launching a growth plan to franchise nationwide.