Blimpie announces joint venture agreement with I Can't Believe Its Yogurt/Java Coast Coffee.NEW YORK--(BUSINESS WIRE)--May 30, 1995--Blimpie International (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BMPE BMPE Black Market Peso Exchange ) and The Brice Group have entered a joint venture agreement to market I Can't Believe Its Yogurt yogurt: see fermented milk. yogurt Semisolid, fermented, often flavoured milk food. Yogurt is known and consumed in almost all parts of the world. and Java Coast Fine Coffee at Blimpie restaurants. As part of the the exclusive partnership, The Brice Group will become the sole supplier of frozen yogurt and gourmet coffee in traditional Blimpie restaurants and Blimpie will have exclusive rights to sell the two products within the submarine sandwich chain category. The Brice Group is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. which owns I Can't Believe It's Yogurt and Java Coast Coffee, two specialty chains with 1,400 locations around the world. The first Blimpie/I Can't Believe Its Yogurt/Java Coffee outlet will open in early June in Fairfield, New Jersey. "The Brice Group and Blimpie are the perfect partners because our products truly complement each other, and the arrangement provides our customer with convenient, one-stop shopping," said Anthony Conza, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Blimpie International. "We are continually investigating innovative ways to sell our product and service the American consumer." "The two companies share a passion for excellence with a precedence The order in which an expression is processed. Mathematical precedence is normally: 1. unary + and - signs 2. exponentiation 3. multiplication and division 4. placed on fresh, quality ingredients and friendly, fast service," said James Amos, Jr., CEO of The Brice Group. "We look forward to a successful expansion of this co-branding concept nationally and internationally." Blimpie International Inc. is the franchisor of the nation's second leading submarine sandwich restaurant chain, with approximately 1,000 outlets operating in 42 states. Since its founding in 1964, Blimpie has sold hundreds of millions of sandwiches. For the nine months ending March 31, 1995, Blimpie International reported a 68% jump in revenue to $18,620,864 and a 66% increase in earnings to $1,717,694 as compared with the nine month period ending March 31, 1994. CONTACT: Kirshenbaum & Bond, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Annabelle Freeman/Janina Lieberson 212/337-4542 |
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