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Free Hospitality Publications
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Restaurant Industry News
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Tuesday October 24th, 2006 |
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Ultimate Franchise Systems, Inc. Increases Interest in Flamers Hamburgers
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Ultimate Franchise Systems Inc. (OTC Pink Sheets: UFSJ) announced today that it has recently increased its ownership position in Concept Acquisitions, Inc., the corporate owner of the Flamers Hamburgers fast casual restaurant brand. UFSJ said it has increased its ownership from 18.5 % to 88%. |
"We are continuously evaluating our brand ownership positions on the basis of numerous criteria," explained Christopher Swartz, UFSJ CEO. "We look at the potential for the brand to grow from unit revenues as well as from opening new locations. We also look at how the brand could increase Ultimate's cash flow, the dollar volume the chain brings to our food purchasing power, and how the concept complements our other brand affiliations."
Flamers has developed an operating formula that focuses on shopping malls and college campuses. Ultimate recently announced that Flamers has signed agreements for seven new locations in the past two months.
Flamers Charbroiled Hamburgers and Chicken currently has 43 locations across the U.S. and in three countries. The Flamers chain grosses approximately $15 million in system-wide sales. Most of its operations are located in shopping malls where the company has a captive audience that reduces outside marketing costs. Flamers serves hamburgers and chicken sandwiches cooked over an open grill offering an original char-broiled grill flavor. The company is based in Lake Mary, Florida.
Ultimate currently has ownership positions in two additional hamburger concepts, Juicy Lucy's with five locations in southwest Florida, and Central Park Hamburgers, with forty locations, headquartered in Chattanooga, Tennessee.
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