Muscle Maker Grill Continues Expansion – Acquires Philadelphia Location
November 02 2020 - 4:05PM
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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