FAMOUS DAVE’S OF AMERICA (NASDAQ:DAVE) will be expanding into the western United States with two units in the Salt Lake City area. The company will convert two existing steakhouse restaurants in the Salt Lake City suburbs of Midvale and Layton.
“We are committed to growing Famous Dave’s throughout the United States. The acquisition and subsequent conversion of the two units will enable us to quickly move into a key area. The growth and reputation of Salt Lake City as a regional center makes it a perfect expansion foundation into the West,” stated Martin O’Dowd, chief executive officer and president of Famous Dave’s of America, Inc.
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Scheduled to open by the end of the quarter, the conversions will require a minimum of effort and expense as both units are already themed and constructed similar to Famous Dave’s restaurants.
Famous Dave’s of America, Inc. (NASDAQ:DAVE) develops, owns, operates and franchises restaurants and blues clubs. The company currently owns 30 locations and franchises 7 additional units in Minnesota, Wisconsin, Illinois, Iowa, Nebraska, Maryland and Virginia. Famous Dave’s has plans to open another company owned unit and two franchised units in the year 2000 bringing the total to 42.
Certain matters discussed within this press release, including statements regarding new restaurant sites, 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 defer materially from Famous Dave’s expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, changes in local or national economic conditions, availability of financing and other risks detailed from time to time in the company’s SEC reports.
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