NEWS
Dixie Lee International Industries, Inc. Acquires the Assets of Dixie Lee, the Franchisor of Over 100 Chicken and Fish Stores in Canada
Jun 18, 2007 8:00:00 AM
Copyright Business Wire 2007
DALLAS--(BUSINESS WIRE)--
Dixie Lee International Industries, Inc. (Pinksheets:DLII), a growing master franchisor with more then 100 restaurants and over 40 years of continuous operations, announced today that it has acquired the assets of several "Dixie Lee" related private Canadian corporations and Dixie Lee Food Systems (USA), Inc., a privately held New York corporation.
The acquisition is final and the Company is now the master franchisor of over 100 Dixie Lee restaurants strategically positioned, primarily in Eastern Canada, with stores from coast to coast. The transaction was undertaken with the specific aim of expanding the Company's presence, as well as to develop an even greater franchisee network.
The Canadian company began operations in 1964 and has been successfully operating for over 43 years with chicken, fish and ribs as the signature food items.
Dixie Lee has three concepts designed to meet the consumers' demand for fast, quality, economical meals. The Dixie Lee family restaurants range from 1800 to 2500 square feet. The take-out with convenience seating units typically range from 1500 to 2000 square feet. The take-out dedicated units range from 800 to 1000 square feet.
Joe Murano, Dixie Lee CEO, said, "this is an important benchmark in the growth of our company. Our acquisition is complete and the quotation of Dixie Lee International Industries' common stock on the public market puts us in an excellent position to gain additional exposure for our company and for our projects as we move to execute our strategic development plan. Our goal is to enhance shareholder value and we believe the best way to achieve this is simply by enhancing Dixie Lee's strengths."
For Information, please contact Robert Adams at radams@mogulir.com.
About Dixie Lee
Dixie Lee was founded in Belleville, Ontario and has been in operation, initially marketed as supplementary food items to existing restaurants, since 1964. Dixie Lee grew from 8 stores, in 1979, to more than 35 stores in Ontario by 1987. In 1988 Dixie Lee began selling franchises and has expanded to over 70 franchised outlets from coast to coast.
Dixie Lee International Industries, Inc. acquired Dixie Lee Food Systems (U.S.A.) Ltd., the parent company that owns and operates over 100 stores, and is now pursuing expansion into the United States and foreign markets with its "Dixie Lee Diner" (TM). All locations provide high quality food products at economical prices with a strong emphasis on fast, friendly service.
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