Diversified Restaurant Holdings, Inc. to Open Bagger Dave's Legendary Burger
Tavern(R) in Downtown Grand Rapids, Michigan
SOUTHFIELD, Mich., Nov. 27, 2012 (GLOBE NEWSWIRE) -- Diversified Restaurant
Holdings, Inc. (OTCQB:DFRH) ("DRH" or the "Company"), the owner, operator, and
franchisor of the unique, full-service, ultra-casual restaurant and bar Bagger
Dave's Legendary Burger Tavern^® ("Bagger Dave's") and the largest franchisee
for Buffalo Wild Wings^® ("BWW"), announced today it has signed a long-term
lease for a new Bagger Dave's in downtown Grand Rapids, Michigan, which is
scheduled to open in mid-2013.
T. Michael Ansley, President and CEO of Diversified Restaurant Holdings, Inc.,
commented, "We are confident that Grand Rapids food enthusiasts will embrace
our ultra-casual better-burger concept, with our incredibly diverse menu of
custom-crafted burgers, legendary sauces and local craft beers. With three
established Bagger Dave's locations already in the area (Cascade, Grandville
and Holland), we believe this new location will solidify Bagger Dave's as the
go-to destination for local residents and visitors as there is truly nothing
like it in the local marketplace."
Grand Rapids is the second largest city in Michigan and is nicknamed
"Furniture City" due to it being a major lumbering center and the premier
furniture manufacturing city as it is home to five of the world's leading
office furniture companies. The new Bagger Dave's restaurant will be located
on the riverfront at 241 W. Fulton Street, just seconds from the expressway
and Grand Valley State University's downtown campus.
About Diversified Restaurant Holdings
Diversified Restaurant Holdings, Inc. ("DRH" or the "Company") is the owner,
operator, and franchisor of the unique, full-service, ultra-casual restaurant
concept, Bagger Dave's Legendary Burger Tavern^® ("Bagger Dave's") and the
largest Buffalo Wild Wings^® ("BWW") franchisee. Between the two concepts, the
Company currently operates 41 restaurants in Michigan, Florida, Illinois, and
Indiana, with an additional Bagger Dave's and two additional BWW restaurants
scheduled to open in 2012. Including these locations, and one franchised
Bagger Dave's in Missouri, the Company expects to have 45 restaurants by
year's end. 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 (never
frozen), accompanied by more than 30 toppings from which to choose, 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 ten corporate-owned
locations in the state of Michigan and one franchised location in Missouri.
The Company has an executed area development agreement to franchise five
additional Bagger Dave's in five states outside of Michigan. DRH is approved
to franchise Bagger Dave's in the states of Illinois, Indiana, Kentucky,
Michigan, Missouri, Ohio, and Wisconsin. For more information, visit
DRH operates 31 BWW restaurants: 14 in Michigan, nine in Florida, four in
Illinois and four in Indiana. The Company has opened 17 new BWW restaurants in
fulfillment of its 32-store Area Development Agreement ("ADA") with franchisor
Buffalo Wild Wings, Inc. (Nasdaq:BWLD). The remaining 15 restaurants under the
ADA agreement, along with an additional franchise agreement in Indiana,
suggest that the Company will operate 47 BWW's by 2017.
Safe Harbor Regarding Forward Looking Statements
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:
Deborah K. Pawlowski
Kei Advisors LLC
Chief Financial Officer
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