Great American Food Chain Acquires Amici Restaurants
DALLAS, February 25, 2011 -- The Great American Food Chain, Inc.(Pink Sheets: GAMN), announced today that it has acquired an 80 percentinterest in Amici Restaurants of Madison Georgia, www.amici-cafe.com.
Amici Restaurants is a 17 year old regionalchain of full service family style Italian restaurants. Amici Restaurants owns and operates tworestaurants, one in Madison and one in Covington Georgia. In addition there are four franchiserestaurants located in Athens, Augusta, Milledgeville, and Lake Oconee, and apartnership restaurant in Monroe Georgia. Total system wide sales are estimated at $6.5 million.
Amici’s founder Chris Torino will remain withthe company and assume the position of VP of Brand Innovation. Mike Torino will hold the position of VP ofBrand Development and will serve as a member of the Board of Directors of TheGreat American Food Chain, Inc.
The Great American Food Chain, Inc. hasappointed Robert Andreottola as President of the company and Mr. Andreottolawill also serve as a member of the Board of Directors.
Edward Sigmond, Chairman and CEO of TheGreat American Food Chain, was quoted as saying “we are very excited about theopportunity to have the Amici brand as part of our company. Amici has an excellent reputation in itscurrent markets and feel that it is well positioned to grow and into acompetitive regional brand.”
About The GreatAmerican Food Chain, Inc.
The GreatAmerican Food Chain, Inc. is a restaurant holding company specializing in thedevelopment and expansion of proven independent restaurant concepts intomulti-unit locations through corporate owned stores, licensing, and franchisingopportunities. GAMN is located in Dallas, Texas.
Forward-LookingStatements
Any statements inthis press release about The Great American Food Chain's expectations, beliefs,plans, objectives, assumptions or future events or performance are nothistorical facts and are forward-looking statements for purposes of the PrivateSecurities Litigation Reform Act of 1995 (the "Act"). Thesestatements are often, but not always, made through the use of words or phrasessuch as "believe," "will," "expect,""anticipate," "estimate," "intend,""plan," "forecast," "could," and"would." There are a number of important factors that could causeactual results or events to differ materially from those indicated by suchforward-looking statements, including: limited operating history, need forfuture capital, risks inherent in the development and commercialization ofrestaurant concepts, protection of the Company's intellectual property, andeconomic conditions generally. Additional information on potential factors thatcould affect results and other risks and uncertainties are detailed from timeto time in the Company's periodic reports. The Great American Food Chain claimsthe protection of the safe harbor for forward-looking statements under the Actand assumes no obligation and expressly disclaims any duty to update anyforward-looking statement to reflect events or circumstances after the date ofthis news release or to reflect the occurrence of subsequent events.
SOURCE: GreatAmerican Food Chain, Inc.
By Staff
CONTACT: The Great American Food Chain, Inc.
Edward Sigmond
(214) 880-0446
Esigmond@gamnfc.com