RTXB TO ACQUIRE LARGE RESTAURANT CHAIN
August 01 2013 - 1:43PM
OTC Markets
Republic of Texas Brands
Incorporated Announces Plan To Purchase Large Texas-Based Barbecue Restaurant
Chain and Real Estate
Profitable Restaurant Chain
Consists of Multiple Properties
Dallas, TX - (07/29/2013) ?
Republic of Texas Brands, Inc. (OTC.PK: RTXB - News) is pleased to
announce it has signed a Letter of Intent to purchase a successful
Texas-based barbecue restaurant chain, which consists of multiple
profitable restaurants in exchange for approximately $20 million.
The barbecue restaurant chain has been in business for over 30
years, generated well over $10 million in sales in 2012 and all of
its locations are in the Dallas/Fort Worth area. The Company plans
on entering into a definitive agreement after its 90 day due
diligence period. The Restaurant Chain has asked to keep its name
private until the definitive agreement is signed.
Republic of Texas Brands has
entered into an agreement with a publically traded asset based
lender. The lender will purchase the highly valuable barbecue
restaurant chain?s real estate from its current owner and lease it
back to Republic of Texas Brands. The Company has identified other
sources for the necessary funds to complete the
acquisition.
Republic of Texas Brands plans to
launch an investor?s website page within the next six months in
addition to its commerce site www.republicoftexas.com
to help keep investors informed and
up to date on the Company and its subsidiaries.
?This
acquisition will be a huge leap forward for our company and will
make Republic of Texas Brands a major player in the Texas barbecue
restaurant business. In addition to the company stores, we will
also execute our plan to franchise locations all across the United
States. The barbecue
restaurant chain we plan to acquire will keep the same name that it
has been operating under for over 30 years," stated Jerry Grisaffi,
CEO of Republic of Texas Brands
Please visit our
website:
http://www.republicoftexas.com
Please visit our
Facebook: https://www.facebook.com/republicoftexascompanystore
Please visit our
Twitter: https://twitter.com/RTXB
About
Republic of Texas Brands Incorporated:
Republic of Texas Brands
Incorporated (RTXB) has a distinct unique brand and logo that
captures the emotion attached to Texas and its independent
attitude, recognized and loved around the world. Republic of Texas
Brands strategy will be to utilize its relationship and co-packing
agreement with Bergheim Texas BBQ to produce product to our
specifications and to be the commissary for our restaurant
group.
Safe Harbor Act: This release includes forward-looking statements
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 that involves risks and
uncertainties including, but not limited to, the impact of
competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
Contact: jerry@republicoftexas.com
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