Muscle Maker Grill Continues Expansion – Acquires Philadelphia Location
Muscle Maker, Inc. (GRIL) has acquired a franchise-owned restaurant in Philadelphia, marking its third corporate location in the area. The restaurant has been operational for over eight years and will enhance revenue immediately. Located near fitness facilities, it aims to serve health-conscious consumers with dine-in and delivery options. CEO Michael Roper emphasized the acquisition's strategic importance in expanding the brand's presence in Philadelphia, alongside two upcoming ghost kitchens. This move aligns with their goal to provide healthier dining options.
- Acquisition of a stable, franchise-owned restaurant expected to enhance revenue immediately.
- Location near a large fitness center aligns well with the brand's health-focused offerings.
- Strategic expansion into Philadelphia market with additional ghost kitchens planned.
- None.
Acquisition Marks Third Corporate Owned Philadelphia Location
League City, Texas, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Muscle Maker, Inc. (Nasdaq: GRIL) the parent company of Muscle Maker Grill, Healthy Joe’s and MMG Burger Bar, a fast-casual concept known for serving “healthier for you” meals, today announced the acquisition of one of its previously franchise-owned locations in the Northeast neighborhood of Philadelphia. The now corporate-owned restaurant is located at 2550 Grant Avenue. The location has been a stable presence in the market for over eight years and is currently open and operating today. The acquisition will be immediately accretive to top line company revenue and represents the third corporately owned and operated location in the Philadelphia market when combined with the previously announced two ghost kitchen locations.
This now corporate owned Philadelphia market location is located near many fast-casual food businesses and conveniently located next to a large LA Fitness giving easy access to “healthier for you” food options for locals working out and looking to eat healthy. This location will offer dine in, take out, delivery, convenient online ordering through its mobile app – MMG Rewards, meal plans, smoothies, shakes and more.
“This acquisition further supports our effort to offer our brands to the Philadelphia community looking for healthier options. With our two ghost kitchens projected to open in November and December this year we are well positioned to capture the attention of the Philadelphia market.” said Michael Roper, CEO of Muscle Maker Grill. “Similar to our recent Chelsea NYC purchase, this location already has brand awareness which should help with the rollout of our ghost kitchens over the balance of this year. The company will continue to look for opportunities to grow our corporately owned location portfolio including individual locations and potentially larger acquisitions. This acquisition made a lot of sense given its proximity to a large fitness facility and stable history of providing “healthier for you” options to the local market.”
About Muscle Maker Grill
Founded in 1995 in Colonia, New Jersey, Muscle Maker Grill features high quality, great tasting food, freshly prepared with proprietary recipes. The menu, created with the guest’s health in mind, is lean and protein based. It features all-natural chicken, grass fed steak, lean turkey, whole wheat pasta, wraps, bowls and more. It also offers a wide selection of fruit smoothies in a variety of assorted flavors, protein shakes and supplements. For more information on Muscle Maker Grill, visit www.musclemakergrill.com.
Forward-Looking Statements
This press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc does not undertake any duty to update any forward-looking statements except as may be required by law.
Contact:
Muscle Maker Grill Marketing
marketing@musclemakergrill.com
Investor Relations:
IR@musclemakergrill.com
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