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Muscle Maker, Inc. (Nasdaq: GRIL), a prominent player in the global food supply chain sector, has undergone significant transformation and expansion over recent years. Originally focused on the U.S. restaurant business, Muscle Maker has evolved into a diversified, global food-focused organization, operating through its two main business units: Sadot LLC and the MMI Restaurant Group.
Sadot LLC, the company's largest operating unit, was formed in partnership with Aggia LLC FZ and focuses on international trading and shipping of food and feed commodities such as soybean meal, wheat, and corn. Recently, Sadot expanded its operations into North, Central, and South America, facilitated by a strategic agreement with Buenaventura Trading LLC. This expansion has significantly enhanced the company's geographic reach and strengthened its position in the global commodity trading industry.
The MMI Restaurant Group operates over 50 restaurants, including concepts such as Pokémoto Hawaiian Poké & Boba Tea and Muscle Maker Grill. These restaurants and the fresh-prep meal service, Superfit Foods, cater to the growing 'healthier-for-you' market segment. The National franchise development of Pokémoto is a key growth driver, with over 50 franchise units already in the 2023 pipeline.
Muscle Maker's achievements include its recent addition to the Russell Microcap® Index, reflecting the company's strategic advancements and financial performance, notably a 7000% increase in year-over-year top-line revenue in Q1 2023. The company's subsidiary, Sadot LLC, has generated over $500 million in total revenue since its inception in November 2022.
An essential part of Muscle Maker's growth strategy is its commitment to sustainability and innovation. The recent appointment of David Errington, an expert in the sustainability and environmental sector, to the Board of Directors underscores this commitment.
The company's financial condition remains robust, with positive net income and consistent revenue growth. The recent amendment to the services agreement with Aggia LLC FZ is expected to enhance profit potential by reducing non-cash stock-based expenses by 50%, thus improving bottom-line results.
Muscle Maker continues to grow in size, diversity of operations, and financial strength while maintaining its original principles of sourcing and providing healthier food options. For more information, please visit www.musclemakerinc.com.
Muscle Maker, Inc. (Nasdaq: GRIL) reports a remarkable growth in revenue, attributing a 725% increase year-to-date, totaling $62.86 million. The surge in revenue follows the establishment of its wholly owned subsidiary, Sadot LLC, which generated $54.19 million in November alone. This month marks the first under the management of AGGIA LLC. The agreement allows AGGIA to earn shares of Muscle Maker based on net income generated, which could lead to significant equity expansion for the subsidiary.
Muscle Maker, Inc. (Nasdaq: GRIL) has provided a shareholder update regarding its recent agreement with AGGIA LLC FZ. Key highlights include a performance-driven compensation structure where AGGIA earns shares based on net income generated for its subsidiary, Sadot LLC. AGGIA can acquire up to 14,424,275 shares at a premium price if it generates $22,537,929 in net income. The agreement also allows AGGIA to nominate board members based on income thresholds. Muscle Maker emphasizes its focus on franchising growth while diversifying through this partnership.
Pokemoto, a Hawaiian poke chain and subsidiary of Muscle Maker, Inc. (GRIL), has signed its 50th franchise agreement, expanding to 15 states.
This milestone reflects the company’s growing footprint and successful franchising efforts. Franchisees can expect initial fees of up to $25,000 per unit with a 6% royalty rate on net sales. The company has partnered with Newtek Business Services to assist franchisees in securing funding. The franchise model aims to attract entrepreneurs seeking innovative dining concepts as Pokemoto continues its momentum in new and existing markets.
Muscle Maker, Inc. (Nasdaq: GRIL) has partnered with Newtek Business Services Corp. to provide funding solutions for franchisees of its Hawaiian poke bowl chain, Pokemoto. This collaboration aims to support current and prospective franchisees in securing financing to open new locations across the U.S. A dedicated portal on the Pokemoto website offers various services, including commercial loans and lines of credit. The initial franchise fee is up to $25,000, with ongoing royalties capped at 6% of net sales. This partnership is expected to bolster franchisee operations and enhance growth opportunities.
Muscle Maker, Inc. (Nasdaq: GRIL) has launched a vertical integration initiative through its new subsidiary, Sadot LLC, in collaboration with AGGIA LLC. AGGIA will handle operations, earning shares of Muscle Maker's stock based on net income generated, calculated at a premium of $1.5625 per share. Up to 14,424,275 shares can be awarded if Sadot generates $22,537,929 in income. The initiative aims to enhance operations while allowing the current team to focus on growth strategies. A special shareholders meeting is expected to approve this transaction.
Muscle Maker, Inc. (Nasdaq: GRIL) reported improved third quarter 2022 results with operational profits increasing 8% year-over-year despite inflationary challenges. The company opened seven new Pokemoto locations, bringing the total to 40 restaurants operating under the Muscle Maker Grill and Pokemoto brands. As of September 30, 2022, cash reserves exceeded $11.6 million, enabling further growth and potential acquisitions. The firm sold 45 additional Pokemoto franchise agreements, expanding its market presence.
Pokemoto, part of Muscle Maker, Inc. (GRIL), has signed two franchise agreements in South Carolina, marking its entry into the state. These agreements represent the 45th and 46th signed for the Hawaiian poke bowl restaurant concept, expanding its operations to 14 states total. The new locations will cater to the Myrtle Beach and Carolina Forest markets, targeting Millennial and Gen-Z audiences. Each franchise agreement generates $25,000 and a 6% royalty on net sales once operational. Pokemoto continues its growth strategy, aiming to become a major player in the poke industry.
Muscle Maker, Inc. has announced the opening of a new Pokemoto Hawaiian poke restaurant in Gallatin, Tennessee, marking its fifth opening since August 2022. Located at 1025 Nashville Pike, the eatery serves dine-in and online ordering options, featuring a Hawaiian-inspired design. The new location further expands Pokemoto's reach, now operating in eight states with a total of 45 franchise agreements signed. This new site aims to cater to a growing demand for healthier dining options as well as enhance community engagement.
Muscle Maker, Inc. (Nasdaq: GRIL) has signed a new franchise agreement for its Hawaiian poke bowl concept, Pokemoto, in Allentown, Pennsylvania. This is the company's 45th franchise agreement, expanding its presence in Pennsylvania. The new franchise follows the recent grand opening of Pokemoto in Northeast Philadelphia. Allentown, known for its vibrant dining scene, is expected to attract Millennials and Gen-Zs with Pokemoto's customizable menu. The brand continues to implement its growth strategy by opening new franchise locations, generating significant revenue and royalties.
Muscle Maker, Inc. (Nasdaq: GRIL) has launched a limited-time lobster seafood salad as a new protein option at Pokemoto locations, marking the brand's innovation in its Hawaiian poke bowl offerings. This new item features a blend of lobster, white fish, Japanese mayo, and special seasonings and is available in customizable bowls or burritos. The rollout aligns with National Lobster Day celebrations on September 25, 2022, and aims to enhance customer experience and engagement through various promotional initiatives, including social media marketing.
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