MIAMI SUBS ACQUIRES RESTAURANTS AND TERRITORY.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--January 12, 1995--Miami Subs Corporation (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 : SUBS) today announced two separate transactions in which it is acquiring three existing Miami Subs Grill Miami Subs Grill is a restaurant chain owned by Miami Subs Capital Partners 1. The chain has over 60 stores, the overwhelming majority of which are in Florida, and the remainder elsewhere on the East Coast. restaurants, additional royalty fees from 21 franchised restaurants, and development rights to the Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the market. The first transaction involves the acquisition of certain assets from Kavala Kavala (Greek and Turkish, in Greek also; as Kavála, Kavalla), is a town in northern Greece, the principal seaport of eastern Macedonia and the capital of Kavala prefecture. It is prettily situated on the Bay of Kavala, across from the island of Thasos. , Inc., a private company owned by Miami Subs Corporation founder and a director, Mr. Gus Boulis. The assets being acquired consist of two restaurants, including one of the highest volume and most profitable restaurants in the chain, and the additional royalty fees from 21 franchised restaurants originally developed by Kavala, which had received one-half of the royalties. As a result of this transaction, Miami Subs Corporation will receive all of the royalties from these restaurants. This acquisition is being made for cash, including $2.5 million dollars expected to be provided through bank financing for which Miami Subs Corporation has received a commitment letter subject to customary financing conditions. The second transaction involved the acquisition of a successful, high-volume Miami Subs Grill restaurant located in Houston, Texas, from its Dallas/Houston area franchisee, along with the development rights to the Houston territory. Miami Subs Corporation recently announced the acquisition of MGIII, Inc., which included eight existing Miami Subs Grill restaurants, five restaurants previously operated by MGIII and the Company in a joint venture, the servicing rights and royalties associated with 28 franchised restaurants operated by franchisees, and development rights in North and South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. and North Florida. "These acquisitions are a continuation of the Company's strategic plan to expand into contiguous Adjacent or touching. Contrast with fragmentation. See contiguous file. markets of strength," said Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs J. Russo, president and chief executive officer. After taking into effect the above acquisitions, Miami Subs Corporation will operate 34 of the 159 restaurants in the chain. The Company intends to franchise certain of these restaurants. Miami Subs Corporation develops, owns, operates and franchises restaurants which are uniquely positioned between casual, full-service restaurants and fast food restaurants. The Company's restaurants feature a wide variety of moderately priced, high quality, fresh foods, which are prepared to order and served in a distinctive and casual environment. The restaurants are operated under the names Miami Subs and Miami Subs Grill. The Company's stock is listed on the national market system of NASDAQ and is traded under the symbol "SUBS". CONTACT: Miami Subs Corporation, Fort Lauderdale
Thomas J. Russo
Jerry W. Woda
305/973-0000
or
Ruder Finn, Inc., New York
Robert D. Ferris, 212/715-1573
Cynthia DeMonte, 212/593-6321
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