Expanding Operations, New Agreements Fuels Steady Growth - Company Executes Master Franchise Agreement for State of Nevada
CORAL SPRINGS, Florida, April 8, 2014 /PRNewswire/ --
Market updates for leading consumer goods companies and up and coming quick service restaurant continues steady growth with expansion in Nevada: GRILLiT, Inc. (OTC: GRLT), Starbucks Corporation (NASDAQ: SBUX), Whole Foods Market, Inc. (NASDAQ: WFM) and Chipotle Mexican Grill, Inc. (NYSE: CMG).
GRILLiT, Inc. (OTC Pink: GRLT) today announced that it has completed an agreement effective as of April 1, 2014 for the sale of GRILLiT master franchise rights in the State of Nevada. The rights were obtained for a total cash consideration of $75,000, which the Company will book to its revenue in the second quarter of this year, plus an ongoing 4% royalty commitment on all gross revenues, and a $12,500 up front fee for each franchised location established in these territories.
To read the full GRLT press release, please click here: http://www.fnmprofiles.com/profiles-grlt.html
As with the States of Texas and Arizona announced on March 31, the master franchisee is operated by Texas Expansion Wing Group, LLC, an experienced restaurant area developer and franchise sales organization. The principals of Texas Expansion Wing Group have over 26 years experience in the retail and food industry, both as operators and owners. Their experience ranges from the sale of over 100 franchises for QSR, the opening of over 90 restaurants in Austin, San Antonio, Corpus Christi, Laredo, Brownsville, Harlingen, and McAllen, Texas, and owning and operating YUM brands in Mexico. Their most recent projects include acting as area developers for Hurricane Grill and Wings, one of the fastest growing casual dining concepts in the country, and Dazbog Coffee, which franchises the operation of specialty coffee stores.
Starbucks Corporation (NASDAQ: SBUX) recently announced the launch of its 4th annual Global Month of Service, with Starbucks partners (employees), customers and community members once again coming together to help contribute more than one million community service hours per year by 2015. This program supports the advancement of Starbucks Global Responsibility Goals which were designed to help make communities stronger through ethical sourcing, environmental stewardship and community engagement. Building on last year's success, Starbucks will collaborate with more than ten organizations for Global Month of Service projects including Alaska Airlines, King Soopers, Deloitte, and Fidelity Investments. This year, Starbucks will also collaborate with global clothing retailer UNIQLO to co-host community service projects in five cities around the world. Starbucks estimates more than 55,000 volunteers will come together this month to participate in 2,000 projects in 40 countries fostering long-term, positive change in neighborhoods around the world.
Whole Foods Market, Inc. (NASDAQ: WFM) and New Frontiers Natural Marketplace recently announced that Whole Foods Market will purchase four stores from New Frontiers. The stores average 22,000 square feet in size and are located in Flagstaff, Prescott and Sedona, Ariz.; and San Luis Obispo, Calif. "Over the years, when I have at times wondered if our stores would someday merge with a larger strategic partner, Whole Foods Market has always been my premier choice," said Jonathan King, president of New Frontiers. "We are very enthusiastic about their ability to take our stores into a successful future. We know they will provide growth opportunities for our exceptional team members, and continue to bring retail excellence and outstanding service to our local communities." The two companies expect the transaction to be finalized in the next few weeks. The stores will continue to operate under the New Frontiers Natural Marketplace banner until they are re-signed as Whole Foods Market stores. Read the full release at http://finance.yahoo.com/news/whole-foods-market-acquires-four-150000888.html
Chipotle Mexican Grill, Inc. (NYSE: CMG) recently announced the lineup for its 2014 Cultivate food, music and ideas festival series, with events planned in San Francisco, Minneapolis, and Dallas-Ft. Worth. Now in its fourth year, the one-day festivals all include cooking demonstrations by celebrity chefs, live music, local food artisans, breweries, wineries, a special Chipotle festival menu, and other activities emphasizing fresh and affordable food made with sustainably raised ingredients. Cultivate San Francisco will be held on Saturday, June 7 in Golden Gate Park's Hellman Hollow; Cultivate Minneapolis is on Saturday, August 23 in Loring Park; and Cultivate Dallas-Ft. Worth is Saturday, October 18 at Lake Carolyn in nearby Irving, Tex. Admission for all events is free. "We are changing the way people think about and eat fast food, and that includes helping people understand more about how food is raised and prepared," said Mark Crumpacker, chief marketing and development officer at Chipotle. "The Cultivate events allow us to bring people together for a celebration of food and music, but also to educate them about how food can be raised responsibly."
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