Diversified Restaurant Holdings Added to the Russell 2000(R) Index
July 01 2013 - 8:04AM
Diversified Restaurant Holdings, Inc. (Nasdaq:BAGR) ("DRH" or the
"Company"), the creator, developer, and operator of the unique,
full-service, ultra-casual restaurant and bar Bagger Dave's
Legendary Burger Tavern® ("Bagger Dave's") and one of the largest
franchisees for Buffalo Wild Wings® ("BWW"), today announced it has
been added to the Russell 2000® index.
"Our inclusion in the Russell 2000 represents yet another key
milestone for our Company and reflects the successful
implementation of our growth strategy," stated Michael Ansley,
President and CEO. "The inclusion in the index also broadens our
market exposure as other investors will be introduced to and become
more familiar with our story."
DRH believes there are significant opportunities to grow its
brands in existing and new markets throughout the Midwest. The
Company has established a disciplined strategy for opening new
restaurants and, by the end of 2017, expects to operate
approximately 50 corporate-owned Bagger Dave's and 47 BWW
locations.
The Russell 2000 Index measures the performance of the small-cap
segment of the U.S. equity universe and is a subset of the Russell
3000® Index. The Russell 2000 Index represents approximately
10% of the total market capitalization of the Russell 3000
Index. Russell indexes are widely used by investment managers
and institutional investors for index funds and as benchmarks for
both passive and active investment strategies. Russell
determines membership for its equity indexes primarily by
objective, market capitalization rankings, and style
attributes.
About Diversified Restaurant Holdings
Diversified Restaurant Holdings, Inc. ("DRH" or the "Company")
is the creator, developer, and operator of the unique,
full-service, ultra-casual restaurant concept, Bagger Dave's
Legendary Burger Tavern® ("Bagger Dave's") and one
of the largest Buffalo Wild Wings® ("BWW")
franchisees. Between the two concepts, the Company currently
operates 47 corporate-owned restaurants in Michigan, Florida,
Illinois, and Indiana, and one franchised Bagger Dave's in
Missouri, for a total of 48 restaurants. The Company routinely
posts news and other important information on its website at
www.diversifiedrestaurantholdings.com.
Bagger Dave's offers a full-service, family-friendly restaurant
and bar with a casual, comfortable atmosphere. The menu features
freshly-made burgers, accompanied by more than 30 toppings from
which to choose, along with fresh-cut fries, hand-dipped
milkshakes, and a selection of craft beer and wine. Signature items
include Sloppy Dave's BBQ®, Train Wreck Burger®, and Bagger Dave's
Amazingly Delicious Turkey Black Bean Chili®. The Bagger
Dave's concept emphasizes local flair by showcasing historical
photos of the city in which each restaurant resides and features an
electric train that runs above the dining room and bar
areas. Currently, there are 12 corporate-owned locations and
one franchised location. For more information, visit
www.baggerdaves.com.
DRH operates 35 BWW restaurants: 17 in Michigan, 10 in Florida,
4 in Illinois and 4 in Indiana. The Company has opened 21 new
BWW restaurants in fulfillment of its 32-store Area Development
Agreement ("ADA") with franchisor Buffalo Wild Wings, Inc.
(Nasdaq:BWLD). The remaining 11 restaurants under the ADA
agreement, along with an additional franchise agreement in Indiana,
suggest that the Company will operate 47 BWW restaurants by
2017.
Safe Harbor Statement
The information made available in this news release contains
forward-looking statements which reflect DRH's current view of
future events, results of operations, cash flows, performance,
business prospects and opportunities. Wherever used, the words
"anticipate," "believe," "expect," "intend," "plan," "project,"
"will continue," "will likely result," "may," and similar
expressions identify forward-looking statements as such term is
defined in the Securities Exchange Act of 1934. Any such
forward-looking statements are subject to risks and uncertainties
and the Company's actual growth, results of operations, financial
condition, cash flows, performance, business prospects and
opportunities could differ materially from historical results or
current expectations. Some of these risks include, without
limitation, the impact of economic and industry conditions,
competition, food and drug safety issues, store expansion and
remodeling, labor relations issues, costs of providing employee
benefits, regulatory matters, legal and administrative proceedings,
information technology, security, severe weather, natural
disasters, accounting matters, other risk factors relating to our
business or industry and other risks detailed from time to time in
the Securities and Exchange Commission filings of DRH.
Forward-looking statements contained herein speak only as of the
date made and, thus, DRH undertakes no obligation to update or
publicly announce the revision of any of the forward-looking
statements contained herein to reflect new information, future
events, developments or changed circumstances or for any other
reason.
CONTACT: Investor Contact:
Craig P. Mychajluk
Kei Advisors LLC
716.843.3832
cmychajluk@keiadvisors.com
Company Contact:
David G. Burke
Chief Financial Officer
248.223.9160
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