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TPI BUYS FLORIDA SHONEY'S FRANCHISEE

 WEST PALM BEACH, Fla. and MEMPHIS, Tenn., July 12 /PRNewswire/ -- TPI Enterprises, Inc. (NASDAQ-NMS: TPIE) and its principal subsidiary, TPI Restaurants, Inc., the nation's largest franchisee of Shoney's and Captain D's restaurants, announced today that it has signed an agreement, subject to certain conditions, to acquire West Palm Beach, Inc. which has the exclusive rights to operate Shoney's restaurants in the Northern Palm Beach territory. The acquisition will include three existing Shoney's restaurants located in West Palm Beach, Palm Beach Gardens and Jupiter, all within the exclusive territory.
 The acquisition, when completed, will provide TPI with the exclusive territorial development rights in Florida for all of Palm Beach County, certain parts of Broward County and the general Orlando area.
 Gary Sharp, CEO and president of TPI Enterprises, Inc., said, "The acquisition is consistent with our continuing growth strategy to develop Shoney's restaurants in the states of Florida and Texas, which are our principal growth areas. The territory being acquired is contiguous with our existing operations and will enhance our market position in the entire Palm Beach County area."
 With the new sites in Florida, TPI will operate 270 restaurants, including 196 Shoney's and 70 Captain D's. The ten-state region TPI serves includes North Carolina and Tennessee, where the majority of units are currently located, as well as South Carolina, Alabama, Mississippi, Texas, Florida, Georgia and Michigan.
 -0- 7/12/93
 /CONTACT: Robert Kennedy of TPI Enterprises, 407-835-8888/
 (TPIE)


CO: TPI Enterprises, Inc. ST: Tennessee, Florida IN: LEI SU: TNM

WB-MP -- NY035 -- 0366 07/12/93 11:20 EDT
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Publication:PR Newswire
Date:Jul 12, 1993
Words:258
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