Great American Food Chain Acquires Amici Restaurants
March 07 2011 - 7:19AM
Marketwired
The Great American Food Chain, Inc. (PINKSHEETS: GAMN) announced
today that it has acquired an 80 percent interest in Amici
Restaurants of Madison, Georgia, www.amici-cafe.com.
Amici Restaurants is a 17 year old regional chain of full
service family style Italian restaurants. Amici Restaurants owns
and operates two restaurants, one in Madison and one in Covington,
Georgia. In addition there are four franchise restaurants located
in Athens, Augusta, Milledgeville, and Lake Oconee, and a
partnership restaurant in Monroe, Georgia. Total system wide sales
are estimated at $6.5 million.
Amici's founder Chris Torino will remain with the company and
assume the position of VP of Brand Innovation. Mike Torino will
hold the position of VP of Brand Development and will serve as a
member of the Board of Directors of The Great American Food Chain,
Inc.
The Great American Food Chain, Inc. has appointed Robert
Andreottola as President of the company and Mr. Andreottola will
also serve as a member of the Board of Directors.
Edward Sigmond, Chairman and CEO of The Great American Food
Chain, was quoted as saying, "We are very excited about the
opportunity to have the Amici brand as part of our company. Amici
has an excellent reputation in its current markets and feel that it
is well positioned to grow and into a competitive regional
brand."
About The Great American Food Chain, Inc.
The Great American Food Chain, Inc. is a restaurant holding
company specializing in the development and expansion of proven
independent restaurant concepts into multi-unit locations through
corporate owned stores, licensing, and franchising opportunities.
GAMN is located in Dallas, Texas.
Forward-Looking Statements
Any statements in this press release about The Great American
Food Chain's expectations, beliefs, plans, objectives, assumptions
or future events or performance are not historical facts and are
forward-looking statements for purposes of the Private Securities
Litigation Reform Act of 1995 (the "Act"). These statements are
often, but not always, made through the use of words or phrases
such as "believe," "will," "expect," "anticipate," "estimate,"
"intend," "plan," "forecast," "could," and "would." There are a
number of important factors that could cause actual results or
events to differ materially from those indicated by such
forward-looking statements, including: limited operating history,
need for future capital, risks inherent in the development and
commercialization of restaurant concepts, protection of the
Company's intellectual property, and economic conditions generally.
Additional information on potential factors that could affect
results and other risks and uncertainties are detailed from time to
time in the Company's periodic reports. The Great American Food
Chain claims the protection of the safe harbor for forward-looking
statements under the Act and assumes no obligation and expressly
disclaims any duty to update any forward-looking statement to
reflect events or circumstances after the date of this news release
or to reflect the occurrence of subsequent events.
CONTACT: The Great American Food Chain, Inc. Edward Sigmond
(214) 880-0446 Email Contact
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