Baristas Acquires Sweet Spot Cafe
Pangea Networks, Inc. DBA "Baristas" has completed an agreement whereas it purchased 100% of Sweet Spot Cafe Drive-Thru locations.
-- Chain Leader, 9/29/2009 8:54:00 AM
PRESS RELEASE: SEATTLE, WA--(Marketwire - September 29, 2009) - Pangea Networks, Inc. DBA "Baristas" has completed an agreement whereas it purchased 100% of Sweet Spot Cafe Drive-Thru locations. The transaction was completed on August 4, 2009. This includes two company owned drive-thru locations in Washington State. The locations are currently being converted to the Baristas brand.
Sweet Spot Cafe, Inc. has been featured in the Seattle Times, The New York Times, The Boston Globe, The Los Angeles Times, The Chicago Tribune and MSNBC. Sarah Araujo, the founder of Sweet Spot Cafe, has joined Baristas as its Director of Communications and will focus her efforts on promoting the Baristas brand.
Sarah stated, "I am excited about growing a business that I have a passion for. The Baristas team is highly talented and I envision a bright picture for the future."
"The Sweet Spot is one of the more recognized brands in the region. Together with our previous acquisitions Baristas is leveraging previous successes, refining the workflow, building our footprint, increasing revenue, reducing cost, and building our brand," stated CEO Barry Henthorn.
About the Sweet Spot Cafe, Inc.:
Sweet Spot Cafe, Inc. is owned by Sarah Araujo. Sweet Spot is a distinctive drive-thru coffee stand. They provide a remarkably fun atmosphere and delicious drinks with a wink and a smile.
About Baristas:
Headquartered in Seattle, WA, Baristas (www.baristas.tv) was formed in order to create a national brand of drive-thru espresso stands by acquiring established businesses that fit its model and by opening new locations.
Forward-Looking Statements:
This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provisions of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future events or transactions, sales of products or performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to execute its business plan, having necessary financing in time to meet contractual obligations and support the business activity, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's current and future filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.
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