GFY Foods, Inc. Finalizes Acquisition of the Willowbrook Frullati Cafe and Bakery
BUFFALO GROVE, Ill., May 13 /PRNewswire-FirstCall/ -- GFY Foods, Inc. (OTC Bulletin Board: GFYF) announced today that it has finalized the acquisition of the Frullati Cafe and Bakery franchise location in the Willowbrook Athletic Club in Willowbrook, IL. This location will become a wholly owned subsidiary of GFY Foods, Inc. and will maintain its primary location in the Willowbrook Athletic Club.
"This asset makes a great deal of sense to us, as it continues with our goal of acquiring Frullati franchises. Also, and importantly, it is located in a health club -- a venue with which we are familiar. This allows us to put in place an operational plan similar to the other locations, and can save money by combining some of our operations, said Ed Schwalb, President of GFY Foods, Inc. "Additionally the current management team has agreed so stay onboard for 90 days and help us to transition operations, to ensure there is no disruption in revenue and customer satisfaction."
The company now has three active locations regionally. It has plans to grow nationally by rolling out additional locations in key market segments and to work closely with the Kahala Corporation to acquire new restaurants. It hopes to open 8-10 new locations by the end of calendar 2004, in metropolitan areas where there is minimal competition and significant upside to build a brand and establish the company nationally.
About GFY Foods, Inc.
Founded in the spring of 2003 by Ed Schwalb -- GFY Foods now has three franchise locations in place located in the Midwestern U.S. The company believes in the importance of providing high quality foods at affordable prices that are healthy alternatives to food that is now being sold to the American public. For more information please contact Ed Schwalb, President, 847.353.7554, 601 Deerfield Parkway, Buffalo Grove, IL 60089. ares@bwwonline.com
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.
GFY Foods, Inc.
CONTACT: Ed Schwalb, President of GFY Foods, Inc., +1-847-353-7554,
ares@bwwonline.com
***
***
