Dixie Foods International Expands Relationship With Papa John's
Date : 08/28/2014 @ 9:00AM
Source : PR Newswire (US)
Stock : Dixie Foods International Inc. (QB) (DIXI)
Quote : 0.88 0.0 (0.00%) @ 8:46AM
Dixie Foods International Expands Relationship With Papa John's
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WILLISTON, Fla., Aug. 28, 2014 /PRNewswire/ -- Dixie Foods International, Inc. (OTCQB: DIXI) announced that: (1) it has signed an additional Area Development Agreement with Papa John's International to build two Papa John's locations: one in downtown Las Vegas (the old Strip) and one in North Las Vegas - near the Company's recently-opened Capriotti's Sandwich Shop and (2) it has signed leases to open five Papa John's franchised locations in and around Fresno and Sacramento, California. DIXI expects to commence construction on all of these locations this summer/fall and have all open and operating prior to year-end 2014.
Headquartered in Las Vegas, Nevada, DIXI, though its recently-acquired KCI Investments, LLC, currently operates 13 franchised Capriotti's Sandwich Shops in: Clark County, Nevada; Dallas/Fort Worth; Texas and four counties in Southern California. KCI also: currently manages Elements Kitchen and Martini Bar - an Alex Stratta Fine Casual Restaurant, and has five additional Capriotti's locations and one Alex Stratta Italian Steakhouse in various phases of development and construction.
The five Papa John's locations for which leases have been signed represent DIXI's first developed pursuant to its exclusive rights to develop Papa John's in trade areas stretching from Fresno to north of Sacramento, California. DIXI has committed, per its March 2014 Area Development Agreement with Papa John's, to build 24 locations over a two-year period.
"We are excited to be launching our Papa John's initiatives," noted DIXI CEO Ken Antos. "Papa John's offers great products and service and we look forward to representing them."
DIXI also currently has exclusive development areas for Capriotti's Sandwich Shops in all of Dallas/Fort Worth and its Southern California markets (Orange County, San Diego County and parts of Los Angeles County), and is committed, per various franchise agreements, to build 99 locations.
Additionally, DIXI recently signed an agreement in principal with celebrity chef Alex Stratta to jointly develop, open and operate various restaurant and other food-service concepts. Stratta was the first "Iron Chef", having played the role of Iron Chef Italian on the television show Iron Chef USA, and has been nicknamed the "Italian Scallion". DIXI already has opened on Alex Stratta-related, fine casual restaurant in Las Vegas and announced plans to open an Italian Steakhouse, a fine-dining establishment in a new development in Las Vegas, Nevada. Additionally, DIXI anticipates opening a number of restaurant and food-service concepts in partnership with Stratta within the next year.
For information contact:
Richard Groberg
CFO
DIXI Foods International, Inc.
investorrelations@kciinvestmentsllc.com
This press release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events and similar expressions. Forward-looking statements may be identified by use of words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," or "potential" or similar words or phrases which are predictions of or indicate future events or trends. Statements relating to plans and objectives for future operations, including those relating to KCI Investments, LLC, are based on DIXI's current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Any of these statements could prove to be inaccurate and actual events or investments and results of operations could differ materially from those expressed or implied. To the extent that DIXI's assumptions differ from actual results, DIXI's ability to meet such forward-looking statements may be significantly and negatively impacted. You are cautioned not to place undue reliance on any forward-looking statements and DIXI disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, future events or other changes. Please refer to DIXI's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") for the fiscal year ended August 31, 2013 and subsequently filed SEC reports for further information.
SOURCE Dixie Foods International, Inc.
