BMOC Partners enters into joint venture agreement with Baristas Coffee Co. for NY expansion
May 14 2015 - 6:00AM
InvestorsHub NewsWire
ERIE, PA -- MAY 14, 2015 -- BMOC PARTNERS, master franchise partner of Baristas Coffee Company (OTCQB:BCCI), announced today that they have entered into a joint venture agreement with Baristas Coffee Company to expand operations of the Baristas Coffee Company Mall Café format throughout the state of NY. The joint venture will be owned 51% by Baristas and 49% by BMOC and will be managed primarily by BMOC under the Baristas Café’ concept which has been proven effective in the Pennsylvania locations. The locations that are in malls in Pennsylvania are Baristas franchises owned and operated by BMOC Partners. Baristas will recognize revenue consistent with other majority owned Joint Ventures that they operate in Florida. The first location has been identified and negotiated and will be announced once an opening schedule has been established. Baristas CEO Barry Henthorn stated: “NY has been on our radar for quite some time as have many other regions. Baristas and our partners wanted to prove the mall concept and gage acceptance. Now that we have proven the concept in Pennsylvania we are moving forward with other regions and are exceptionally optimistic about the opportunities that exist in NY. Opening the NY region as a Joint venture allows Baristas to take a larger stake in the locations while leveraging the operational aptitude of BMOC Partners” BMOC president Lance Lehr stated : “Since our recent openings we have been contacted by several NY area mall operators and have identified a sizable pool of available locations throughout the state . With the aggressive expansion in development within the BMOC 8 state master franchise territory we felt it was best to add the expertise and resources of Baristas to be able to maximize the rapid expansion throughout New York” BMOC Partners is a national operator and developer of hospitality and food service concepts. Based in Erie, Pa., BMOC develops both quick serve and full serve properties in several states.
For more information on BMOC Partners please visit us at www.bmocpartners.com
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