TAMPA, Fla., Sept. 22, 2011 /PRNewswire/ -- Bella Petrella's Holdings, Inc., (OTC: QB--BTHR) announced today it has acquired Bobby V's Original Westshore Pizza LLC, which operates one 83-seat pizza and sandwich sports bar in Tampa, Florida. The restaurant was founded by Robert Vasaturo, Jr. in 1994. Unaudited gross revenues of the restaurant's most recently ended 2010 fiscal year were approximately $1,518,917.
Bella Petrella's purchased Bobby V's Original Westshore Pizza, LLC at a price of $1,110,000, paid with a promissory note October 31, 2011 and secured by a pledge of the members' interests in the acquired company. The maturity date of the note is subject to two extensions, the last being through August 31, 2013, subject to issue of shares of our common stock, at the election of the holders.
John V. Whitman Jr., Bella Petrella's CEO/Chairman, said "There is no other higher honor than being able to own a restaurant which has become such an icon in the Tampa market. Bobby V's has built more than a pizza joint, they built an institution that has been enjoyed by two generations of families."
ABOUT THE BELLA PETRELLA'S HOLDINGS
The Company produces a line of gourmet, reduced acid, pasta sauces, salsas and pizza sauce which is sold institutionally and to retailers. Each of the Company's products is all natural, full flavored and diabetic friendly. The Company's products are perfect for the consumer who suffers from acid reflux and traditionally has avoided tomato based products. The Company is an early revenue-stage enterprise. The Company, through its subsidiaries franchises 37 pizza and sandwich sports bars in Florida and Ohio and operates one 83-seat pizza and sandwich sports bar in Tampa, Florida.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's registration statement and reports filed with the SEC. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements
SOURCE Bella Petrella's Holdings, Inc.