Steak Chain Santa Fe Cattle Co. Renegotiates Beef Cost
Santa Fe Cattle Co. signs new purchasing agreement trimming more than 6% from total beef cost.
-- Chain Leader, 3/13/2009 8:13:00 AM
PRESS RELEASE: NASHVILLE, TN--(Marketwire - March 12, 2009) - The popular and rapidly growing Santa Fe Cattle Co. (PINKSHEETS: SFHD) roadhouse style steak restaurant chain has reached an agreement on a fixed beef contract price for March through December 2009 with National Beef, the company's current supplier. The agreed to terms will lock in beef prices for the rest of 2009 and reduce total beef cost by more than 6% from 2008.
"First orders on our new agreement will be placed this week," according to Danny York, Santa Fe's CEO. "Several members of our management team were instrumental in negotiating these tremendous savings, Mr. York went on to say how proud he is of his management group's willingness to always find ways to lower cost and continually improve the quality and service for the customers of Santa Fe."
Flourishing in spite of the troubled economy, the company's strong sales and revenue growth have established Santa Fe Holding Company as one of the fastest growing concepts in the restaurant industry. In 2008, revenue grew by over 57%. The company is projecting revenue growth of over 50% and expects to add 8 to 10 new stores in 2009.
About Santa Fe Holding Co.
Publicly traded Santa Fe Holding Company (PINKSHEETS: SFHD), of Brentwood, Tenn., operates Santa Fe Cattle Co., one of the nation's fastest growing casual dining "roadhouse" steak restaurant chains. Started in 1996, it provides customers with a unique blend of perfectly aged USDA Choice steaks, ribs, fajitas, Texas Hill Country-influenced homemade sauces and dressings, and mouth-watering Chuck Wagon favorites developed exclusively for the company. Each restaurant's distinctive signature decor includes a Big Ass Fan, which can be seen on their website at www.bigassfans.com. This unique atmosphere creates a fun, nostalgic, down-home, family-oriented atmosphere reminiscent of the Old West with simply awesome food, amazingly friendly service -- all at a reasonable price. For more information, visit: www.santafecattle.com.
Safe Harbor
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the markets, variations in the company's cash flow, competition, availability and cost of materials and labor and suitable real estate locations, and other risk factors.
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