Restaurant Expansion: Papa Bello to Expand in Mid-Atlantic (Press Release)
Emerging restaurant chain Papa Bello sells area representative rights to develop Mid-Atlantic region.
-- Chain Leader, 11/5/2008 8:04:00 AM
LAS VEGAS, Nov. 5 /PRNewswire-FirstCall/ -- Papa Bello Enterprises (Pink Sheets: PAPA) is pleased to announce that the company has sold an Area Representative Agreement to the Pastore Food Corporation to develop several states in the Mid-Atlantic region. Under the contract, Pastore's holds the rights to establish and expand Papa Bello franchises in the states of Pennsylvania, Delaware, and the District of Columbia.
The Pastore Food Corporation entered the Italian food industry by opening a grocery, produce and deli store in the year 1912 in Baltimore, MD. The company is currently evaluating several potential franchise sites and anticipates opening their first store in the beginning of 2009. A minimum growth of 40 new stores throughout the region is included in the agreement terms.
Frank Pastore, President of Pastore Food Corporation states, "My family has been in the food and restaurant business for almost 100 years and we're known for our quality of food, and the attention we give our customers. When we came across the Papa Bello concept, we were so impressed with their organization and high standards of quality, we decided to change the course of our company indefinitely. We already feel like part of the Papa Bello family, and are excited to build out the brand in the Mid-Atlantic region."
Chase Canfield, CEO of Papa Bello states, "We have felt an immediate synergy working with the Pastore's group. From a corporate standpoint, we have full confidence that the Papa Bello brand will be well represented and developed by their capable and experienced team."
About Papa Bello Enterprises
Founded in 2005, Papa Bello Enterprises is a Las Vegas, NV based corporation that owns, operates, and franchises Italian style eateries in the United States. The company currently has 19 stores in operation and has a master lease agreement with Wal-Mart. The company was founded on the principles of providing the consumer with the highest standards of quality, value, and service. For more information on Papa Bello Enterprises or franchise information, please visit http://www.papabellopizza.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
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