Famous Dave's Enters Development Agreement for Eight New Restaurants in New York State
MINNEAPOLIS--(BUSINESS WIRE)--Dec. 20, 2004--FAMOUS DAVE'S OF AMERICA, INC. (NASDAQ:DAVE) President and CEO David Goronkin announced today that Team R n' B New York, LLC, owned and operated by current franchise partner Larry Seedorf, has purchased the right to franchise eight additional Famous Dave's Legendary Pit Bar-B-Que(R) restaurants in outstate New York. The territory covered under the development agreement includes all of New York from Poughkeepsie north, and the restaurants are expected to open over the next six years.
In addition to the right to open new Famous Dave's in New York, Larry Seedorf owns and operates five Famous Dave's restaurants and owns the right to open four additional Famous Dave's in Wisconsin through Team R n' B Wisconsin, LLC. Through Team R n' B Michigan, LLC, Mr. Seedorf owns and operates two Famous Dave's restaurants and owns the right to open three additional Famous Dave's in Michigan. With the new agreement, Mr. Seedorf owns the rights to a total of 22 Famous Dave's restaurants, the largest total for any Famous Dave's franchise partner. In addition to operating the largest Famous Dave's franchise territory, Mr. Seedorf also serves on Famous Dave's Franchise Advisory Board.
"Famous Dave's is very proud and fortunate to have Larry Seedorf as a key contributor to the company's growth," said David Goronkin, President and CEO of Famous Dave's. "Larry's leadership skills and restaurant experience have proven to be a recipe for success at the Famous Dave's restaurants that he currently operates. His contributions to Famous Dave's, including his service on the Franchise Advisory Board, go far beyond owning restaurants. We know that the state of New York will be treated to the best possible dining experience, Famous Dave's style, in the hands of Larry Seedorf. "
Famous Dave's Bar-B-Que features hickory-smoked St. Louis-style ribs, Texas Beef Brisket, and Famous Dave's award-winning Rich & Sassy(R) BBQ sauce. Additionally, the menu offers barbeque and country roasted chicken, BBQ sandwiches, burgers and salads. Plus, the restaurant serves up such down home classics as made-from-scratch coleslaw, potato salad, Wilbur Beans, corn bread muffins and Famous Fries. Famous Dave's delectable homemade desserts include its award-winning bread pudding and hot fudge Kahlua brownie.
Having won awards for everything from best sauce to best ribs to best cookbook, Famous Dave's has received wide acclaim and praise from customers and critics alike. Famous Dave's Rib Team regularly competes in rib competitions across the country, and has raked in 1st place awards at the Southern Florida Championship Cook Off in Jupiter, Florida, the Great American Rib Cook-off in Ohio, the Sioux Empire Rib-fest in Sioux Falls, South Dakota, the Rib Fest & More in Fargo, North Dakota, the Pontiac Rib America Rib Fest in Pontiac, Michigan, the Twin Cities Rockin' Rib Fest in Minneapolis, Minnesota and the Rib America Indianapolis Rib Fest in Indianapolis, Indiana to name just a few.
About Famous Dave's. Famous Dave's of America, Inc. (NASDAQ:DAVE) develops, owns, operates and franchises barbeque restaurants. The company currently owns 38 locations and franchises 66 additional units in 24 states. Its menu features award-winning barbequed and grilled meats, an ample selection of salads, side items and sandwiches, and unique desserts. For more information, please visit www.famousdaves.com or contact Pat Courtemanche at (612) 782-8305.
Certain matters discussed within this press release, including timing of the transactions, restaurant openings and expansion plans, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Famous Dave's of America, Inc. believes the expectation reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectation will be attained. Factors that could cause actual results to differ materially from Famous Dave's expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, franchisee performance, changes in local or national economic conditions, availability of financing, governmental approvals and other risks detailed from time to time in the company's SEC reports.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4787974 CONTACT: Golden & Associates, Minneapolis Pat Courtemanche, 612-782-8305 SOURCE: Famous Dave's of America, Inc.