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Papa Bello Enterprises Closes the Acquisition of The Kebab Cafe

 

BALTIMORE, Nov. 19 /PRNewswire-FirstCall/ -- Papa Bello Enterprises, Inc. (Pink Sheets: PAPA) is pleased to announce that the company has closed its acquisition of The Kebab Cafe; a Southern California based restaurant concept specializing in Middle Eastern style cuisine with a European twist. This acquisition will bring in an additional revenue stream to Papa Bello while helping to reach the company's goal of becoming a more diversified food service company.

The Kebab Cafe currently operates a flagship location in the Westfield Mall in La Jolla, California and is currently in negotiations to open two additional corporate locations in the Southern California area over the next few months.

Sam and Jag Kambo, President and Executive Vice President, respectively, of The Kebab Cafe stated, "We are very excited to be acquired by Papa Bello. Their financial and management assistance will give us the necessary tools to help fund our growth and better market our franchise. Our experience in the food industry has given us the ability to make the best food possible, and with Papa's continued help and support, we can be the best company possible."

Jim Price, CEO of Papa Bello states, "Our due diligence process confirmed our initial excitement about the owners, operators and overall business model of The Kebab Cafe. They operate a very efficient business and have the ability to further expand their footprint Nationwide. I have seen the crowded restaurant, experienced the cuisine and can personally attest to the quality of the food and the organization. Accordingly, I believe that each individual Kebab Cafe location should be able to operate with a 20-30% net profit margin. In conjunction with our original timeline, we are currently in the branding and planning phase and anticipate the nationwide roll out in the first quarter of 2010."

About Papa Bello Enterprises

Founded in 2005, Papa Bello Enterprises is a Baltimore, Maryland based corporation that owns, operates, and franchises food service restaurants in the United States and abroad. 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 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.

SOURCE Papa Bello Enterprises

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RELATED LINKS
http://www.papabellopizza.com

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