 |
FRIENDLY'S ANNOUNCES REFRANCHISE AGREEMENT Friendly's to Open New Unit in Old Bridge WILBRAHAM, MASSACHUSETTS (May 12, 2004) - - Friendly's Restaurants Franchise, Inc., a subsidiary of Friendly Ice Cream Corporation (Friendly's, AMEX:FRN) of Wilbraham, Massachusetts, announced today an agreement with Haiback Enterprises, Inc. to franchise one restaurant, specifically, New Providence, New Jersey. This agreement will also bring the development of two new Friendly's Restaurants, the first to open in Old Bridge, New Jersey this summer. The second restaurant is slated to open in 2006. Based in Basking Ridge, New Jersey, Haiback Enterprises, Inc. is led by William Haiback, a 10-year veteran of the restaurant industry. Friendly's Chief Executive Officer and President, John L. Cutter, said, "We're pleased to have Will and his team of experienced restaurant operators join the Friendly's franchise organization. This commitment further strengthens our development pipeline as we look to new and existing franchisees to drive restaurant expansion in 2004 and beyond." Will Haiback commented, "I'm looking forward to being part of this brand. I literally grew up near this restaurant and to have the opportunity to own it is amazing. This brand is so rich in history and I just can't wait to be a big part of its future". Friendly Ice Cream Corporation is a vertically integrated restaurant company serving signature sandwiches, entrees and ice cream desserts in a friendly, family environment in over 530 company and franchised restaurants throughout the Northeast. The company also manufactures ice cream, which is distributed through more than 4,500 supermarkets and other retail locations. With a 69-year operating history, Friendly's enjoys strong brand recognition and is currently remodeling its restaurants and introducing new products to grow its customer base. Additional information on Friendly Ice Cream Corporation can be found on the Company's website www.friendlys.com. For more information on Friendly's franchise program please contact Jim Sullivan, at (800) 576-8088 ext. 2597 or at jim.sullivan@friendlys.com. |
||||||||
© 2007 Friendly Ice Cream Corporation |
      |
