Muscle Maker Grill Acquires Manhattan Location
October 23 2020 - 3:29PM
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 Chelsea neighborhood of Manhattan.
The now corporate-owned restaurant is located at 70 7th Ave Between
14th and 15th and is in the process of building an outdoor seating
area, in addition to its already existing open air back patio to
accommodate social distancing practices due to Covid.
The Chelsea restaurant is one of the highest
volume locations, boasting more than $1.1 million dollars in sales
in 2019. The acquisition gives Muscle Maker Inc. the opportunity to
expand the business and to launch new test products to a broader
audience. The restaurant will also serve as a ghost kitchen to
additional brands under the Muscle Maker, Inc. umbrella. This
location will offer dine in, take out, delivery, convenient online
ordering through its mobile app – MMG Rewards, meal plans,
smoothies, shakes and more. The brand also plans to serve healthier
brands of beer and wine in the near future.
Muscle Maker, Inc. is continuing its growth
plans by adding non-traditional locations on military bases,
college campuses and delivery only ghost kitchens.
“We’re thrilled to add another corporate
location under our belt, especially one of our highest volume
locations in a very fast-paced market” said Michael Roper, CEO of
Muscle Maker Grill. “We already have brand awareness in the market
and we’re looking forward to taking things to the next level by
launching additional concepts and beer and wine. As we have
mentioned previously, we are constantly looking for opportunities
to grow our corporately owned location portfolio including
individual locations and potentially larger acquisitions. The
current environment is presenting many strategic opportunities to
grow the brand and we are in discussions on several other
opportunities that have presented themselves. Any acquisition will
be accretive to the top line sales and corresponding profitability
of the brand.”
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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