- Executes lease on 4,700 square-foot space in Brighton entertainment district
- New store will be Company’s fourth Bagger Dave’s and second opened in 2010
SOUTHFIELD, Mich. (RestaurantNewsRelease.com) Diversified Restaurant Holdings, Inc. (OTCBB: DFRH) (“DRH” or the “Company”) today announced the planned opening of its newest Bagger Dave’s location in Brighton, Michigan. The 4,700 square-foot restaurant and bar will be located at 110 East Grand River, near the intersection of Grand River and Main Street in downtown Brighton, a dining and nightlife destination for the area’s nearly 60,000 residents.
“Our fourth Bagger Dave’s restaurant and second this year will be strategically located in the lively Brighton entertainment district, in the center of a family-oriented community,” commented Michael Ansley, President and CEO of DRH. “We signed a ten-year lease, with renewal options, and expect to soon begin renovations for a planned opening in the fourth quarter of 2010. Our Berkley and Ann Arbor Bagger Dave’s locations have been hugely successful and the recently-opened Novi store is exceeding our expectations. Brighton is the next step in our plans to open up to 24 Bagger Dave’s locations over the next six years, either corporately-owned or franchised under our existing Franchise Disclosure Documents filed in Michigan, Indiana, and Ohio.”
Intended to fill the niche between fast food and casual dining, Bagger Dave’s provides quality food at an ultra-casual price point in a full-service, neighborhood-oriented environment. The menu features fresh food, several signature items, and the ability for each customer to create their own “legend” burger. Complemented by house-made sauces and a full-service bar featuring Michigan craft beers, Bagger Dave’s is truly a one-of-a-kind dining experience.
DRH is the owner/operator and soon to be franchisor of Bagger Dave’s Legendary Burgers & Fries®, a unique, full-service, ultra-casual restaurant and bar. The Company developed the unique Bagger Dave’s concept in 2007 and currently owns and operates three Bagger Dave’s restaurants in Michigan. It opened its first two locations, in Berkley and Ann Arbor, in 2008, and the third location opened in Novi in February 2010.
DRH is also a leading franchisee for Buffalo Wild Wings®, Inc. It opened its 17th location in Marquette, Michigan in June 2010 and has announced plans for the opening of two additional new BWW locations in 2010, in Chesterfield, Michigan, and Ft. Myers, Florida, which will bring the Company’s BWW store count to 19 by the end of the year. In addition, the Company recently announced plans for the opening of another BWW location in Traverse City, Michigan, in the beginning of 2011.
About Diversified Restaurant Holdings
DRH is a leading BWW® franchisee, operates 17 BWW restaurants (five in Florida and 12 in Michigan), and is the recipient of many franchise awards including the Highest Annual Restaurant Sales.
The Company also owns and operates its own unique, full-service, ultra-casual restaurant concept, Bagger Dave’s, which was launched in January 2008. The concept focuses on local flair with the interior showcasing historic photos of the city in which it resides. Bagger Dave’s offers a full-service, family-friendly restaurant and bar with a casual, comfortable atmosphere. The menu features freshly made burgers (never frozen), accompanied by more than 30 toppings from which to choose, fresh-cut fries, hand-dipped milkshakes, and a selection of craft beer and wine. Signature items include Sloppy Dave’s BBQ®, Train Wreck Burger®, and Bagger Dave’s Amazingly Delicious Turkey Black Bean Chili™. There’s also an electric train that runs above the dining room and bar areas. All current and future locations will be smoke-free. Currently, there are three locations in the State of Michigan. DRH has filed for rights, and has been approved, to franchise Bagger Dave’s in the States of Michigan, Indiana, and Ohio. An additional franchising filing in the State of Illinois remains open, pending review by the pertinent authorities. For more information, please visit www.baggerdaves.com.
DRH routinely posts news and other important information on its Web site at www.diversifiedrestaurantholdings.com.
Safe Harbor Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties, and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. Forward-looking statements are based upon the current beliefs and expectations of management. All statements addressing operating performance, events, or developments that DRH expects or anticipates will occur in the future, including but not limited to franchise sales, store openings, financial performance, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units, or the market price of its common stock are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. Actual results may vary materially from those contained in forward-looking statements based on a number of risk factors and uncertainties including, without limitation, our ability to operate in new markets, the cost of commodities, the success of our marketing and other initiatives to attract customers, customer preferences, operating costs, economic conditions, competition, the availability of financing for franchisees and the Company, and the impact of applicable regulations. These and other risk factors and uncertainties are more fully described in DRH’s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission. Undue reliance should not be placed on DRH’s forward-looking statements. Except as required by law, DRH disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.