Muscle Maker
Inc.'s Pokemoto Division Signs 15 Site Franchise
Deal,
Expands
Massachusetts Market
Signing marks largest franchise deal to date for
Pokemoto division; growth rate increases over 200% since
acquisition
LEAGUE CITY,
TEX. (December
9, 2021) -- InvestorsHub NewsWire
-- Muscle
Maker, Inc.'s (Nasdaq: GRIL) newest subsidiary Pokemoto,
a
19-location and growing poke bowl concept known for its healthier
modern culinary twist on a traditional Hawaiian poke
classic, announced today
that it has signed a 15 site franchise agreement in Massachusetts,
fueling the chain's growth rate to over 200% since its acquisition
in May, 2021. With this new agreement, Pokemoto has now
signed 21 franchise agreements over the last 45 days.
Recently signed franchise agreements were in New York,
Massachusetts and Mississippi. Pokemoto currently has open
locations in six states – Connecticut, Rhode Island, Massachusetts,
Georgia, Maryland and Virginia. This 15-unit franchise
agreement represents Pokemoto's largest franchise agreement signed
to date.
The 15-unit franchise agreement is an exclusive
development agreement for Worcester and Middlesex, Massachusetts
counties. These counties represent the first and second most
populous counties in Massachusetts. Both counties have
numerous colleges and universities which fit the Pokemoto
demographic of Millennial and Gen-Z consumers and are a focal point
of the brand's real estate team. Pokemoto currently has two
locations open in Franklin and North Attleboro,
Massachusetts.
The 21 new franchise agreements, when opened, will
bring the Pokemoto chain to 40 locations: expanding the chain's
footprint over 200% since its acquisition in May 2021. Muscle
Maker, Inc. announced that the company recently raised $15M in a
private placement with plans to focus on its strategy of franchise
growth for its Pokemoto
division.
"One of our internal goals at the time of the
acquisition in May 2021 was to pursue significant growth and the
signed 15-pack in Massachusetts, along with the previously
announced 6 deals, provides a solid foundation for these plans"
said Mike Roper, CEO of Muscle Maker, Inc. "Our management team
brings vast experience in areas of operations, franchising, real
estate, distribution and marketing, which was key in inking this
15-pack deal. Expanding the Pokemoto locations via
franchising efforts and through corporately owned locations, to
ultimately accelerate our top line sales, is the main goal.
Our recent capital raise of $15M has provided us with the resources
to execute our strategy allowing us to pursue our goals on all
cylinders. The Pokemoto concept is new and trendy and we
believe that our added buying power, expertise in franchising and
site selection, operations and marketing and additional resources
presents a unique, low cost of entry opportunity for prospective
franchisees."
For more
information on Pokemoto franchising visit
www.pokemoto.com/franchise
About
Pokemoto
Pokemoto has
nineteen open locations in six states – Connecticut, Rhode Island,
Virginia, Massachusetts, Maryland and Georgia with future franchise
locations coming soon in New York and Mississippi. Pokemoto
offers chef-driven contemporary flavors with fresh
delectable and healthy ingredients such as Atlantic salmon, Ahi
tuna, fresh mango, roasted cashews and black caviar tobiko that
appeals to foodies, health enthusiasts, and sushi-lovers
everywhere. Guests can choose from a list of signature bowls
or be bold and build their own unique combination of a base,
protein and various toppings and nine different sauces. Vegetarian
options are available, and the bowl combinations are virtually
limitless. The colorful dishes and modern chic dining rooms
provide an uplifting dining experience for guests of all ages.
Customers can dine in-store or order online via third party
delivery apps for contactless
delivery.
About Muscle Maker,
Inc.
Muscle Maker, Inc. is the parent company of
"healthier for you" brands, delivering high-quality healthy food
options to consumers through traditional and non-traditional
locations such as military bases, universities, ghost kitchens,
delivery and direct to consumer ready-made meal prep options.
Brands include Muscle Maker Grill, Pokemoto, Superfit Foods,
Healthy Joe's and multiple ghost kitchen brands such as Meal Plan
AF, Wrap it up Wraps, Bowls Deep, Burger Joe's, MMG Smoothies, Mr.
Tea's House of Boba, Gourmet Sandwich Co and Salad Vibes. Our
menus highlight healthier versions of traditional and
non-traditional dishes and feature grass fed steak, lean turkey,
chicken breast, Ahi tuna, salmon, shrimp, tofu and plant-based
options.
For more information on Muscle Maker, Inc,
visit www.musclemakergrill.com, for more information on Pokemoto visit
www.pokemoto.com or for more
information on Superfit Foods visit www.superfitfoods.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