VANCOUVER, Wash., March 31, 2016 (GLOBE NEWSWIRE) -- Papa Murphy’s Holdings, Inc. (NASDAQ:FRSH) announced today that it has signed an exclusive area development agreement with Take-n-Bake Hawaii LLC to develop 15 Papa Murphy's pizza stores in the State of Hawaii over the next four years. The first Hawaiian Papa Murphy’s locations are anticipated to open on Oahu in late 2016.
This announcement marks yet another growth milestone for Papa Murphy’s who recently announced expanded store development agreements in Alabama and North Carolina. In addition to entering this new market, Papa Murphy’s expects to add between 115 and 120 new domestic locations in 2016.
Take-n-Bake Hawaii LLC, an experienced franchise operator with more than 15 years of Quick Service Restaurant (QSR) experience in the Hawaiian market, currently operates five franchises of Popeye’s Louisiana Kitchen and eight T-Mobile Premium Retail stores on Oahu.
“As we continue to grow our footprint and expand our presence, entering the Hawaiian market is an important next step for Papa Murphy’s," said Jayson Tipp, chief development officer and senior vice president of technology, of Papa Murphy's Holdings, Inc. “Our goal in entering this market was to find a multi-unit developer with extensive experience and relationships within the region who would protect and promote our fresh pizza brand. We are confident that Take-n-Bake Hawaii LLC with their QSR experience and deep roots in the local community are the ideal team to help busy families in Hawaii solve the dinnertime dilemma.”
“We are excited to be the first to bring the Papa Murphy’s experience to Hawaii and believe that this fresh pizza model will resonate well here,” said Sean Uezu, managing member of Take-n-Bake Hawaii LLC. “We are dedicated to providing our customers and the local community with a unique and fresh experience. We look forward to working with Papa Murphy’s to exclusively develop the Hawaiian market and offer America’s favorite take-and-bake pizza with a big aloha.”
To find a Papa Murphy's location nearest you and order fresh and customizable offerings online, please visit www.papamurphys.com. To connect with Papa Murphy's through Facebook visit www.facebook.com/papamurphyspizza or Twitter and Instagram at @PapaMurphys #LoveAt425.
About Papa Murphy’s
Papa Murphy's Holdings, Inc. (Nasdaq:FRSH) is a franchisor and operator of the largest Take ‘N' Bake pizza chain in the United States, selling fresh, hand-crafted pizzas ready for customers to bake at home. The company was founded in 1981 and currently operates more than 1,500 franchised and corporate-owned fresh pizza stores in 38 States, Canada and United Arab Emirates. Papa Murphy's core purpose is to bring all families together through food people love with a goal to create fun, convenient and fulfilling family dinners. In addition to scratch-made pizzas, the company offers a growing menu of grab 'n' go items, including salads, sides and desserts.
This news release contains forward looking statements that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated in the forward looking statements. Forward-looking statements in this press release include statements relating the timing of store openings on Oahu, projected new store openings and the Company’s expectations regarding consumer acceptance in Hawaii. Any such forward-looking statements are not guarantees of performance or results, and involve risks, uncertainties (some of which are beyond the Company's control) and assumptions. Although the Company believes any forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual performance and results and cause them to differ materially from those anticipated in any forward-looking statements. Please refer to the risk factors discussed in the Company's annual report on Form 10-K for the fiscal year ended December 28, 2015 (which can be found at the SEC's website www.sec.gov); each such risk factor is specifically incorporated into this press release. Should one or more of these risks or uncertainties materialize, the Company's actual performance and results may vary in material respects from those projected in any forward-looking statements.
Any forward-looking statement made by the Company in this press release speaks only as of the date on which it is made. The company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise.
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Source:Papa Murphy's Holdings, Inc.